Housing for Homeless Students Act of 2017

Bill: 115-s-434
Sponsor: full_name: Sen. Franken, Al [D-MN]
Introduced: 2017-02-16
Policy area: Taxation
Subjects: Higher education

Homelessness and emergency shelter

Income tax credits

Low- and moderate-income housing

Veterans' loans, housing, homeless programs
Latest action: action_date: 2017-02-16
text: Read twice and referred to the Committee on Finance.

Summaries:
action_date: 2017-02-16
action_desc: Introduced in Senate
text: <p><strong>Housing for Homeless Students Act of 201</strong><b>7</b></p> <p>This bill amends the Internal Revenue Code, with respect to the low-income housing tax credit, to qualify low-income building units that provide housing for homeless children, youth, or veterans who are full-time students for the credit. To qualify for the credit, the full-time student must have been a homeless child or youth during any portion of the seven-year period prior to occupying the housing unit or a homeless veteran during any portion of the five-year period prior to occupying the unit. </p>

tv_txt: II 115th CONGRESS 1st Session S. 434 IN THE SENATE OF THE UNITED STATES February 16, 2017 Mr. Franken (for himself and Mr. Portman ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to qualify homeless youth and veterans who are full-time students for purposes of the low income housing tax credit.

1. Short title This Act may be cited as the Housing for Homeless Students Act of 2017 . 2. Homeless youth and veterans who are full-time students qualified for purposes of the low income housing tax credit (a) In General Clause (i) of section 42(i)(3)(D) of the Internal Revenue Code of 1986 is amended by redesignating subclauses (II) and (III) as subclauses (IV) and (V), respectively, and by inserting after subclause (I) the following new subclauses: (II) a full-time student who, during any portion of the 7-year period ending with the commencement of such individual's continuous occupation of any low-income unit or units, was an individual described in section 725(2) of the McKinney-Vento Homeless Assistance Act ( 42 U.S.C. 11434a(2) ), (III) a full-time student who, during any portion of the 5-year period ending with the commencement of such individual's continuous occupation of any low-income unit or units, was an individual described in section 2002(1) of title 38, United States Code, . (b) Effective date The amendments made by subsection (a) shall apply to determinations made before, on, or after the date of the enactment of this Act.