Save Affordable Housing Act of 2019
Latest action · Jun 25, 2019 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 25, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Save Affordable Housing Act of 2019
This bill amends the Internal Revenue Code, with respect to the low-income housing tax credit, to repeal the qualified contract option for a building that received its allocation of housing credit dollar amount before January 1, 2019, or received before that date, a determination from the bond issuer or housing credit agency of its eligibility to receive an allocation of a housing credit dollar amount.
Under current law, properties subject to the low-income housing tax credit are subject to a 30-year affordability period, during which the value of properties is set at a below market rate. The qualified contract option allows property owners, in some cases, to convert to market rate after 15 years.
Cosponsors 6
Members who signed on, in the order they did. Signatures ran from Jun 25, 2019 to Jul 18, 2019, with 3 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MD | Benjamin L. Cardin | Original | Jun 25, 2019 |
| D-OH | Sherrod Brown | Original | Jun 25, 2019 |
| R-IN | Todd Young | Original | Jun 25, 2019 |
| D-WA | Maria Cantwell | Jun 26, 2019 | |
| D-CO | Michael F. Bennet | Jun 26, 2019 | |
| D-NH | Margaret Wood Hassan | Jul 18, 2019 |
Actions 2
Everything that happened, newest first.
- Jun 25, 2019Introduced in Senate
- Jun 25, 2019Read twice and referred to the Committee on Finance.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 3479 | Save Affordable Housing Act of 2019 | Identical bill | Jun 25, 2019 |
| S 4078 | Emergency Affordable Housing Act of 2020 | Related bill | Jun 25, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jun 25, 2019Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.