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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 308 Introduced in House (IH)]

<DOC>

119th CONGRESS
  1st Session
                                H. R. 308

 To amend the Internal Revenue Code of 1986 to provide tax incentives 
          for rental housing for members of the Armed Forces.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            January 9, 2025

   Mr. Moore of Utah (for himself and Ms. Strickland) 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 provide tax incentives 
          for rental housing for members of the Armed Forces.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; SENSE OF CONGRESS.

    (a) Short Title.--This Act may be cited as the ``Low Income Housing 
for Defense Communities Act''.
    (b) Sense of Congress.--It is the sense of Congress that in 
addition to expanding and strengthening the affordable housing credit 
for active duty military members through the provisions in the Low 
Income Housing for Defense Communities Act, further steps should be 
taken to drive investment into affordable housing projects in the 
United States and boost overall housing supply for workers and families 
in the United States, such as the Affordable Housing Credit Improvement 
Act of 2023.

SEC. 2. TAX INCENTIVES FOR RENTAL HOUSING FOR MEMBERS OF THE ARMED 
              FORCES.

    (a) Military Basic Housing Allowance Not Taken Into Account in 
Applying Certain Income Restrictions on Residential Rental Projects.--
            (1) Low-income housing tax credit.--Section 42(i) of the 
        Internal Revenue Code of 1986 is amended by adding at the end 
        the following new paragraph:
            ``(10) Income determined without regard to military basic 
        housing allowance.--Payments under section 403 of title 37, 
        United States Code, as a basic pay allowance for housing shall 
        not be taken into account in determining income for purposes of 
        this section.''.
            (2) Tax-exempt bonds for qualified residential rental 
        projects.--
                    (A) In general.--Section 142(d)(2)(B) of such Code, 
                as amended by subparagraph (B), is amended by inserting 
                after clause (i) the following new clause:
                            ``(ii) Income determined without regard to 
                        military basis housing allowance.--Payments 
                        under section 403 of title 37, United States 
                        Code, as a basic pay allowance for housing 
                        shall not be taken into account in determining 
                        income for purposes of clause (i).''.
                    (B) Repeal of deadwood.--Section 142(d)(2)(B) of 
                such Code is amended by striking clauses (ii), (iii), 
                and (iv).
            (3) Effective date.--The amendments made by this subsection 
        shall apply to determinations made after the date of the 
        enactment of this Act.
    (b) Increase in Low-Income Housing Credit for Buildings Near 
Certain Large Military Installation.--
            (1) In general.--Section 42(d)(5)(B) of the Internal 
        Revenue Code of 1986 is amended by adding at the end the 
        following new clause:
                            ``(vi) Buildings near certain large 
                        military installation.--
                                    ``(I) In general.--Any building 
                                which is located within 15 miles of a 
                                large military installation shall be 
                                treated as located in a difficult 
                                development area which is designated 
                                for purposes of this subparagraph.
                                    ``(II) Large military 
                                installation.--For purposes of this 
                                clause, the term `large military 
                                installation' means any military 
                                installation with a total plant 
                                replacement value (as determined by the 
                                Secretary of the Defense) in excess of 
                                $2,833,000,000.''.
            (2) Effective date.--The amendment made by this subsection 
        shall apply to buildings placed in service after the date of 
        the enactment of this Act.
            (3) No requirement that buildings be occupied solely by 
        members of the armed forces.--Nothing in the amendment made by 
        this subsection shall be applied or interpreted to require that 
        buildings described in section 42(d)(5)(B)(vi) of the Internal 
        Revenue Code of 1986 (as added by this section) be occupied 
        solely by members of the Armed Forces.
                                 <all>
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