Title: Access to Affordable Housing Act
Policy area: Taxation

Summary:
Access to Affordable Housing Act
This bill amends the Internal Revenue Code to increase the state allocations for the low-income housing tax credit by specified amounts.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4185 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 4185

     To amend the Internal Revenue Code of 1986 to increase State 
             allocations for the low-income housing credit.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 31, 2017

  Ms. DelBene (for herself, Mr. Smith of Washington, and Ms. Jayapal) 
 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 increase State 
             allocations for the low-income housing credit.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Access to Affordable Housing Act''.

SEC. 2. INCREASES IN STATE ALLOCATIONS FOR LOW-INCOME HOUSING CREDIT.

    (a) Phase-In of Increases.--
            (1) In general.--Clause (ii) of section 42(h)(3)(C) of the 
        Internal Revenue Code of 1986 is amended--
                    (A) by striking ``$1.75'' in subclause (I) and 
                inserting ``the per capita dollar amount''; and
                    (B) by striking ``$2,000,000'' in subclause (II) 
                and inserting ``the minimum ceiling amount''.
            (2) Per capita dollar amount; minimum ceiling amount.--
        Subparagraph (I) of section 42(h)(3) of such Code is amended to 
        read as follows:
                    ``(I) Per capita dollar amount; minimum ceiling 
                amount.--For purposes of this paragraph--
                            ``(i) Per capita dollar amount.--The per 
                        capita dollar amount is--
                                    ``(I) for calendar year 2017, 
                                $2.35,
                                    ``(II) for calendar year 2018, 
                                $2.59,
                                    ``(III) for calendar year 2019, 
                                $2.82,
                                    ``(IV) for calendar year 2020, 
                                $3.06,
                                    ``(V) for calendar year 2021, 
                                $3.29, and
                                    ``(VI) $3.53 thereafter.
                            ``(ii) Minimum ceiling amount.--The minimum 
                        ceiling amount is--
                                    ``(I) for calendar year 2017, 
                                $2,710,000,
                                    ``(II) for calendar year 2018, 
                                $2,981,000,
                                    ``(III) for calendar year 2019, 
                                $3,252,000,
                                    ``(IV) for calendar year 2020, 
                                $3,523,000,
                                    ``(V) for calendar year 2021, 
                                $3,794,000, and
                                    ``(VI) $4,065,000 thereafter.''.
            (3) Modification of cost-of-living adjustment.--
        Subparagraph (H) of section 42(h)(3) of such Code is amended--
                    (A) by striking ``2002'' in clause (i) and 
                inserting ``2017'';
                    (B) by striking ``the $2,000,000 and $1.75 amounts 
                in subparagraph (C)'' in clause (i) and inserting ``the 
                dollar amounts applicable to such calendar year under 
                clauses (i) and (ii) of subparagraph (I)'';
                    (C) by striking ``2001'' in clause (i)(II) and 
                inserting ``2016'';
                    (D) by striking ``$2,000,000'' in clause (ii)(I) 
                and inserting ``minimum ceiling''; and
                    (E) by striking ``$1.75'' in clause (ii)(II) and 
                inserting ``per capita dollar''.
            (4) Effective date.--The amendments made by this subsection 
        shall apply to calendar years beginning after December 31, 
        2017.
    (b) Permanent Increases.--
            (1) In general.--Clause (ii) of section 42(h)(3)(C) of the 
        Internal Revenue Code of 1986, as amended by subsection (a)(1), 
        is amended--
                    (A) by striking ``the per capita dollar amount'' in 
                subclause (I) and inserting ``$3.53''; and
                    (B) by striking ``the minimum ceiling amount'' in 
                subclause (II) and inserting ``$4,065,000''.
            (2) Conforming amendment.--Paragraph (3) of section 42(h) 
        of such Code is amended by striking subparagraph (I), as 
        amended by subsection (a)(2).
            (3) Cost-of-living adjustment.--Subparagraph (H) of section 
        42(h)(3) of such Code, as amended by subsection (a)(3), is 
        amended--
                    (A) by striking ``the dollar amounts applicable to 
                such calendar year under clauses (i) and (ii) of 
                subparagraph (I)'' in clause (i) and inserting ``the 
                $4,065,000 and $3.53 amounts in subparagraph (C)'';
                    (B) by striking ``minimum ceiling'' in clause 
                (ii)(I) and inserting ``$4,065,000''; and
                    (C) by striking ``per capita dollar'' in clause 
                (ii)(II) and inserting ``$3.53''.
            (4) Effective date.--The amendments made by this subsection 
        shall apply to calendar years beginning after December 31, 
        2022.
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