H.R. 3126

119th CONGRESS 1st Session

To amend the Internal Revenue Code of 1986 to increase the low-income housing credit for projects that use water submetering.

IN THE HOUSE OF REPRESENTATIVES · April 30, 2025 · Sponsor: Ms. Tenney · Committee: Committee on Ways and Means

Table of contents

• H.R. 3126
  • SEC. 1. Short title
  • SEC. 2. Increase in credit for projects that use water submetering

SEC. 1. Short title

• This Act may be cited as the Promoting Submetering for Affordable Housing Act.

SEC. 2. Increase in credit for projects that use water submetering

• (a) In general
  • Paragraph (5) of of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: section 42(d)
    • (C) Increase in credit for projects that use water submetering
      • In the case of any building—
        • (i) which contains 4 or more units,
        • (ii) which uses water submeters for purposes of billing each unit separately, and
        • (iii) in which tenants have access to read water submeters, including in landlord-controlled areas, within 72 hours of making a request for such information,
      • the eligible basis of such building shall be 105 percent of such basis determined without regard to this subparagraph.
• (b) Effective date
  • The amendment made by this section shall apply to buildings which receive allocations of housing credit dollar amount or, in the case of projects financed by tax-exempt obligations as described in of the Internal Revenue Code of 1986, which are first taken into account under section 146 of such Code, after the date of the enactment of this Act. section 42(h)(4)