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United States · Bill · HR

H.R. 4873 (109th)

To amend the Internal Revenue Code of 1986 to encourage investment in affordable housing.

referredUnited States· United States Congress· EN

Introduced

2 March 2006

Last action

2 March 2006 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Ramstad, Jim [R-MN-3], Rep. Pickering, Charles W. "Chip" [R-MS-3], Rep. Maloney, Carolyn B. [D-NY-12], Rep. Michaud, Michael H. [D-ME-2], Rep. Herseth Sandlin, Stephanie [D-SD-At Large], Rep. Peterson, Collin C. [D-MN-7], Rep. Ford, Harold E., Jr. [D-TN-9], Rep. Langevin, James R. [D-RI-2], Rep. Hayworth, J. D. [R-AZ-5], Rep. Terry, Lee [R-NE-2], Rep. McCollum, Betty [D-MN-4], Rep. Kennedy, Patrick J. [D-RI-1], Rep. Gordon, Bart [D-TN-6], Rep. English, Phil [R-PA-3], Rep. Rahall, Nick J., II [D-WV-3], Rep. Davis, Lincoln [D-TN-4], Rep. Neal, Richard E. [D-MA-1], Rep. Simpson, Michael K. [R-ID-2], Rep. Davis, Jo Ann [R-VA-1], Rep. Oberstar, James L. [D-MN-8], Rep. Sabo, Martin Olav [D-MN-5], Rep. Moore, Dennis [D-KS-3], Rep. Jefferson, William J. [D-LA-2], Rep. Cantor, Eric [R-VA-7], Sen. Cardin, Benjamin L. [D-MD], Rep. Gerlach, Jim [R-PA-6], Rep. Emanuel, Rahm [D-IL-5], Rep. Holden, Tim [D-PA-17], Sen. Schiff, Adam B. [D-CA], Rep. Osborne, Tom [R-NE-3], Rep. Bradley, Jeb [R-NH-1], Rep. Scott, Robert C. "Bobby" [D-VA-3], Rep. Otter, C. L. (Butch) [R-ID-1], Rep. Matsui, Doris O. [D-CA-7], Rep. Baker, Richard H. [R-LA-6], Rep. Boucher, Rick [D-VA-9], Rep. Doyle, Michael F. [D-PA-14], Rep. Lewis, John [D-GA-5], Rep. Larson, John B. [D-CT-1], Rep. Allen, Thomas H. [D-ME-1]

Subjects

Housing, Taxation

Source updated

2 January 2025

Housing · Taxation

Official sourceDownload fileView documentsShare

Summary

Amends the Internal Revenue Code to: (1) rename the low-income housing tax credit as the affordable housing credit; (2) revise the applicable percentage rates for the credit; (3) increase the credit for low-income buildings that are part of state-designated projects; (4) allow the credit for buildings eligible for moderate rehabilitation assistance under the U.S. Housing Act of 1937; (5) repeal certain repayment requirements for qualified mortgage revenue bond issues; (6) qualify displaced homemakers, single parents, and certain disaster victims for mortgage revenue bond-financed first-time home loans; (7) repeal rules requiring recapture of income from sales of low-income buildings that are reasonably expected to be operated on a low-income basis; (8) impose recapture reporting requirements on owners of qualified low-income buildings eligible for housing credits; (9) exempt affordable housing tax credit amounts from the alternative minimum tax; and (10) exempt interest on certain exempt private activity bonds, qualified mortgage revenue bonds, qualified veterans' mortgage bonds, and certain exempt facility bonds used for residential rental projects from the alternative minimum tax.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 2 March 2006

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 2 March 2006

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 2 March 2006

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 2 March 2006

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  • Introduced in House (PDF)

    Introduced in House · EN · 2 March 2006

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  • Introduced in House

    summary · EN · 2 March 2006

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Sponsors

Related records

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Sources

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