To amend the Internal Revenue Code of 1986 to improve the low-income housing credit.
Summary
What This Bill Does
The bill creates short title This Act may be cited as the Visitable Inclusive Tax credits for Accessible Living (VITAL) Act, creates purpose The purposes of this Act are to— increase low-income housing tax credits to increase the stock of disability-accessible and affordable housing, and requires tax-exempt bond financing requirement Subparagraph (B) of section 42(h)(4) of the Internal Revenue Code of 1986 is amended by adding at the end the following: In the case of buildings financed by an obligation. It relies on tax credits, compliance mandates, definition changes, and tax rate changes. The main policy areas are Homeowners, Housing, Environment, and Education.
Who Benefits and How
Homeowners, tenants, or housing market participants affected by the bill could gain revenue opportunities, Environmental and public health interests 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, Public beneficiaries or protected communities affected by the clause could face increased risk, and Veterans and VA beneficiaries affected by the bill would take on compliance duties.
Key Provisions
- Creates short title This Act may be cited as the Visitable Inclusive Tax credits for Accessible Living (VITAL) Act.
- Creates purpose The purposes of this Act are to— increase low-income housing tax credits to increase the stock of disability-accessible and affordable housing.
- Requires tax-exempt bond financing requirement Subparagraph (B) of section 42(h)(4) of the Internal Revenue Code of 1986 is amended by adding at the end the following: In the case of buildings financed by an obligation...
- Creates increase in credit for projects designated to serve households with people with disabilities Paragraph (5) of section 42(d) of the Internal Revenue Code of 1986 is amended by adding at the end the following new...
- Requires requirement for projects designated to serve households with people with disabilities Paragraph (1) of section 42(m) of the Internal Revenue Code of 1986 is amended by adding at the end the following new...
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 short title This Act may be cited as the Visitable Inclusive Tax credits for Accessible Living (VITAL) Act, creates purpose The purposes of this Act are to— increase low-income housing tax credits to increase the stock of disability-accessible and affordable housing, and requires tax-exempt bond financing requirement Subparagraph (B) of section 42(h)(4) of the Internal Revenue Code of 1986 is amended by adding at the end the following: In the case of buildings financed by an obligation.
Key Policy Areas
Homeowners, Housing, Environment, Education
Primary Purpose
The bill creates short title This Act may be cited as the Visitable Inclusive Tax credits for Accessible Living (VITAL) Act, creates purpose The purposes of this Act are to— increase low-income housing tax credits to increase the stock of disability-accessible and affordable housing, and requires tax-exempt bond financing requirement Subparagraph (B) of section 42(h)(4) of the Internal Revenue Code of 1986 is amended by adding at the end the following: In the case of buildings financed by an obligation.
Policy Domains
Whole bill
Identified Gains
- Homeowners, tenants, or housing market participants affected by the bill
- Environmental and public health interests 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
- Veterans and VA beneficiaries affected by the bill
- Researchers and scientific institutions affected by the bill
- Homeowners, tenants, or housing market participants affected by the bill
Sponsors
Legislative Progress
IntroducedMr. Casey (for himself, Ms. Duckworth, Mrs. Gillibrand, Ms. Klobuchar, …
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?
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