I 

109TH CONGRESS 

1ST SESSION H. R. 2681 

To amend the Internal Revenue Code of 1986 to rename the low-income 

housing credit the affordable housing credit and to increase the per 

capita amount allowed in the determination of the State housing credit 

ceiling. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 26, 2005 

Mr. JEFFERSON (for himself, Mr. ENGLISH of Pennsylvania, Mr. RANGEL, 

Mrs. JOHNSON of Connecticut, Mr. CARDIN, Mr. FOLEY, Mr. 

MCDERMOTT, Mr. LEWIS of Georgia, Mr. BECERRA, Mrs. JONES of Ohio, 

Mr. LARSON of Connecticut, Mr. ABERCROMBIE, Ms. CARSON, Mrs. 

CHRISTENSEN, Mr. CLAY, Mr. CLEAVER, Mr. CONYERS, Mr. CROWLEY, 

Mr. CUMMINGS, Mr. DAVIS of Alabama, Mr. DAVIS of Illinois, Mr. 

FATTAH, Mr. FRANK of Massachusetts, Mr. GRIJALVA, Mr. GUTIERREZ, 

Mr. HASTINGS of Florida, Mr. HINOJOSA, Ms. JACKSON-LEE of Texas, 

Ms. EDDIE BERNICE JOHNSON of Texas, Ms. KILPATRICK of Michigan, 

Mrs. MALONEY, Mr. MEEKS of New York, Mr. MENENDEZ, Ms. 

MILLENDER-MCDONALD, Mr. MILLER of North Carolina, Mr. GEORGE

MILLER of California, Mr. MOORE of Kansas, Ms. MOORE of Wisconsin, 

Mr. OWENS, Mr. PALLONE, Mr. PAYNE, Mr. PRICE of North Carolina, 

Mr. ROSS, Mr. RUSH, Mr. RYAN of Ohio, Ms. LINDA T. SA ́NCHEZ of 

California, Ms. LORETTA SANCHEZ of California, Mr. SERRANO, Mr. 

THOMPSON of Mississippi, Ms. WASSERMAN SCHULTZ, Ms. WATERS, Ms. 

WATSON, Mr. WYNN, and Mr. CUELLAR) introduced the following bill; 

which was referred to the Committee on Ways and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to rename 

the low-income housing credit the affordable housing 

credit and to increase the per capita amount allowed 

in the determination of the State housing credit ceiling. 
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1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Affordable Housing 

5 Tax Credit Enhancement Act of 2005’’. 

6 SEC. 2. INCREASE IN PER CAPITA AMOUNT ALLOWED IN 

7 THE DETERMINATION OF THE STATE HOUS8 ING CREDIT CEILING; CREDIT RENAMED AF9 FORDABLE HOUSING CREDIT. 

10 (a) IN GENERAL.—Subclause (I) of section 

11 42(h)(3)(C)(ii) of the Internal Revenue Code of 1986 (re12 lating to state housing credit ceiling) is amended by strik13 ing ‘‘$1.75 ($1.50 for 2001)’’ and inserting ‘‘$3.70’’. 

14 (b) CONFORMING AMENDMENT TO INFLATION AD15 JUSTMENT.—Subparagraph (H) of section 42(h)(3) of 

16 such Code (relating to cost-of-living adjustment) is amend17 ed— 

18 (1) in clause (i)— 

19 (A) by striking ‘‘2002’’ and inserting 

20 ‘‘2006’’, 

21 (B) by striking ‘‘$1.75’’ and inserting 

22 ‘‘$3.70’’, and 

23 (C) by striking ‘‘calendar year 2001’’ and 

24 inserting ‘‘calendar year 2005’’, and 
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•HR 2681 IH 

1 (2) in subclause (II) of clause (ii) by striking 

2 ‘‘$1.75’’ and inserting ‘‘$3.70’’. 

3 (c) CREDIT RENAMED AFFORDABLE HOUSING

4 CREDIT.— 

5 (1) The following provisions of such Code are 

6 each amended by striking ‘‘low-income housing cred7 it’’ and inserting ‘‘affordable housing credit’’: 

8 (A) Section 38(b)(5). 

9 (B) Section 42(a). 

10 (C) Subsections (a)(7) and (d)(5) of sec11 tion 772. 

12 (2) The heading for section 42 of such Code is 

13 amended to read as follows: 

14 ‘‘SEC. 42. AFFORDABLE HOUSING CREDIT.’’. 

15 (3) The item relating to section 42 in the table 

16 of sections for subpart D of part IV of subchapter 

17 A of chapter 1 of such Code is amended to read as 

18 follows: 

‘‘Sec. 42. Affordable housing credit.’’. 

19 (4) The headings for paragraphs (3)(D) and 

20 (6)(B) of section 469(i) of such Code are both 

21 amended by striking ‘‘LOW-INCOME HOUSING CRED22 IT’’ and inserting ‘‘AFFORDABLE HOUSING CREDIT’’. 
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1 (d) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to taxable years beginning after 

3 December 31, 2005. 

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