H.R. 206

119th CONGRESS 1st Session

To amend the Fair Housing Act to prohibit discrimination based on use of section 8 vouchers, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES · January 3, 2025 · Sponsor: Ms. Velázquez

Table of contents

• H.R. 206
  • Sec. 45AA. Low-income housing maintenance credit.

Sec. 45AA. Low-income housing maintenance credit.

• (a) In general
  • For purposes of section 38, in the case of an eligible landlord, the low-income housing maintenance credit determined under this section for the taxable year is an amount equal to the amount of the taxpayer’s low-income housing maintenance expenses for such taxable year.
• (b) Limitations
  • (1) Per unit limitation
    • The credit allowed under subsection (a) with respect to any taxpayer for any taxable year shall not exceed the product of $2,500 multiplied by the number of low-income housing units owned by the taxpayer.
  • (2) Per building limitation
    • The credit allowed under subsection (a) with respect to any taxpayer for any taxable year shall not exceed the product of $100,000 multiplied by the number of eligible low-income housing projects owned by the taxpayer.
  • (3) Per taxpayer limitation
    • The credit allowed under subsection (a) with respect to any taxpayer for any taxable year shall not exceed $500,000.
• (c) Eligible landlord
  • For purposes of this section, the term eligible landlord means any taxpayer for any taxable year if—
    • such taxpayer owns one or more eligible low-income housing projects during such taxable year, and
    • either—
      • each complaint that is filed, under the program under section 5(b) of the , during such taxable year with respect to a dwelling unit in an eligible low-income housing project owned by such taxpayer has been determined by the Secretary of Housing and Urban Development to have been remedied not later than the date which is 30 days after the date on which such complaint is so filed, or
      • no such complaint has been filed with respect to such a dwelling unit in such a housing project owned by such taxpayer during such taxable year.
• (d) Other definitions
  • For purposes of this section—
    • The term low-income housing maintenance expenses means the aggregate amount paid or incurred by the taxpayer during the taxable year for maintenance or improvement of low-income housing units.
    • The term eligible low-income housing project means, with respect to a taxable year, a housing project—
    • The term low-income housing unit means a dwelling unit within an eligible low-income housing project.
• (e) Aggregation rule
  • All persons treated as a single employer under subsection (a) or (b) of section 52 or subsection (m) or (o) of section 414 shall be treated as one person for purposes of applying this section. The credit determined under subsection (a) (after application of subsection (b)) shall be allocated among such persons in such manner as the Secretary may prescribe.
• (f) Termination
  • No credit shall be determined under this section with respect to any taxable year beginning after December 31, 2035.