Affordable Housing Credit Improvement Act of 2021
This bill revises provisions of the low-income housing tax credit and renames it as the affordable housing credit.
The bill increases the per capita dollar amount of the credit and its minimum ceiling amount beginning in 2021 and extends the inflation adjustment for such amounts.
The bill modifies tenant income eligibility requirements and the average income formula for determining such income. It also revises rules for student occupancy of rental units and tenant voucher payments, and prohibits any refusal to rent to victims of domestic abuse.
The bill further modifies the credit to
The bill also includes Indian and rural areas as difficult development areas and modifies other requirements relating to casualty losses, acquisition credits, and foreclosures.