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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Affordable Housing Credit Improvement Act of 2017

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 to reform the low-income housing credit, and for other purposes.

Actions Overview (1)

Date Actions Overview
03/07/2017Introduced in Senate

All Actions (1)

Date All Actions
03/07/2017Read twice and referred to the Committee on Finance.
Action By: Senate

Cosponsors (45)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Hatch, Orrin G. [R-UT]* 03/07/2017
Sen. Wyden, Ron [D-OR]* 03/07/2017
Sen. Schumer, Charles E. [D-NY]* 03/07/2017
Sen. Schatz, Brian [D-HI]* 03/07/2017
Sen. Leahy, Patrick J. [D-VT]* 03/07/2017
Sen. Heller, Dean [R-NV]* 03/07/2017
Sen. Merkley, Jeff [D-OR]* 03/07/2017
Sen. Booker, Cory A. [D-NJ]* 03/07/2017
Sen. Murkowski, Lisa [R-AK]* 03/07/2017
Sen. Young, Todd C. [R-IN]* 03/07/2017
Sen. Collins, Susan M. [R-ME]* 03/07/2017
Sen. Bennet, Michael F. [D-CO]* 03/07/2017
Sen. Shaheen, Jeanne [D-NH] 03/13/2017
Sen. Portman, Rob [R-OH] 03/13/2017
Sen. Sanders, Bernard [I-VT] 04/06/2017
Sen. Hassan, Margaret Wood [D-NH] 04/06/2017
Sen. Murray, Patty [D-WA] 05/15/2017
Sen. Sullivan, Dan [R-AK] 05/15/2017
Sen. Isakson, Johnny [R-GA] 06/14/2017
Sen. Graham, Lindsey [R-SC] 10/02/2017
Sen. Scott, Tim [R-SC] 10/31/2017
Sen. Kaine, Tim [D-VA] 10/31/2017
Sen. Klobuchar, Amy [D-MN] 03/22/2018
Sen. Gillibrand, Kirsten E. [D-NY] 03/22/2018
Sen. Menendez, Robert [D-NJ] 03/22/2018
Sen. Markey, Edward J. [D-MA] 03/22/2018
Sen. Heitkamp, Heidi [D-ND] 03/22/2018
Sen. Stabenow, Debbie [D-MI] 03/22/2018
Sen. Cardin, Benjamin L. [D-MD] 03/22/2018
Sen. Whitehouse, Sheldon [D-RI] 03/22/2018
Sen. Feinstein, Dianne [D-CA] 03/22/2018
Sen. Coons, Christopher A. [D-DE] 03/22/2018
Sen. King, Angus S., Jr. [I-ME] 03/22/2018
Sen. Hirono, Mazie K. [D-HI] 03/22/2018
Sen. Duckworth, Tammy [D-IL] 03/22/2018
Sen. Casey, Robert P., Jr. [D-PA] 03/22/2018
Sen. Nelson, Bill [D-FL] 03/22/2018
Sen. Brown, Sherrod [D-OH] 03/22/2018
Sen. Carper, Thomas R. [D-DE] 05/21/2018
Sen. Warren, Elizabeth [D-MA] 09/06/2018
Sen. Capito, Shelley Moore [R-WV] 11/14/2018
Sen. Cortez Masto, Catherine [D-NV] 11/14/2018
Sen. Harris, Kamala D. [D-CA] 11/14/2018
Sen. Jones, Doug [D-AL] 11/14/2018
Sen. Blumenthal, Richard [D-CT] 12/17/2018

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Finance03/07/2017 Referred to

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Latest Summary (1)

There is one summary for S.548. View summaries

Shown Here:
Introduced in Senate (03/07/2017)

Affordable Housing Credit Improvement Act of 2017

This bill amends the Internal Revenue Code, with respect to the low-income housing credit, to rename the credit "the affordable housing credit" and make several modifications to the credit.

The bill increases state allocations for the credit and modifies the cost-of-living adjustments. It also revises tenant eligibility requirements, with respect to:

  • the average income test,
  • income eligibility for rural projects,
  • increased tenant income,
  • student occupancy rules, and
  • tenant voucher payments that are taken into account as rent.

The bill revises various requirements to:

  • establish a 4% minimum credit rate for certain projects,
  • permit relocation costs to be taken into account as rehabilitation expenditures,
  • repeal the qualified census tract population cap,
  • require housing credit agencies to make certain determinations regarding community revitalization plans,
  • prohibit local approval and contribution requirements,
  • increase the credit for certain projects designated to serve extremely low-income households,
  • increase the credit for certain bond-financed projects designated by state agencies,
  • increase the population cap for difficult development areas, and
  • eliminate the basis reduction for affordable housing properties that are allowed the credit and receive certain energy-related tax credits and deductions.

The bill also modifies requirements regarding the reconstruction or replacement period after a casualty loss, rights related to building purchases, the prohibition on claiming acquisition credits for properties placed in service in the previous 10 years, foreclosures, and projects that assist Native Americans.