To amend the Internal Revenue Code of 1986 to designate projects serving extremely low-income households for purposes of allocating the State housing credit ceiling and determining an increased amount of low-income housing tax credit.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill creates buildings designated to serve extremely low-income households Section 42(h) of the Internal Revenue Code of 1986 is amended— by redesignating paragraphs (6), (7), and (8) as paragraphs (7), (8), and (9). It relies on definition changes, tax credits, compliance mandates, and exemptions. The main policy areas are Homeowners, Finance, and Housing.
Who Benefits and How
Homeowners, tenants, or housing market participants affected by the bill could face lower compliance burdens and Financial services firms and customers affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties and Public beneficiaries or protected communities affected by the clause could face increased risk.
Key Provisions
- Creates buildings designated to serve extremely low-income households Section 42(h) of the Internal Revenue Code of 1986 is amended— by redesignating paragraphs (6), (7), and (8) as paragraphs (7), (8), and (9)...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill creates buildings designated to serve extremely low-income households Section 42(h) of the Internal Revenue Code of 1986 is amended— by redesignating paragraphs (6), (7), and (8) as paragraphs (7), (8), and (9).
Key Policy Areas
Homeowners, Finance, Housing
Primary Purpose
The bill creates buildings designated to serve extremely low-income households Section 42(h) of the Internal Revenue Code of 1986 is amended— by redesignating paragraphs (6), (7), and (8) as paragraphs (7), (8), and (9).
Policy Domains
Whole bill
Identified Gains
- Homeowners, tenants, or housing market participants affected by the bill
- Financial services firms and customers affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Public beneficiaries or protected communities affected by the clause
Sponsors
Legislative Progress
IntroducedMr. Gomez introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology