Bill · H.R. 3540· House(119-HR-3540)
Low-Income Housing Tax Credit Elimination Act
- Introduced
- 5/21/2025
- Last activity
- 5/21/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Glenn Grothman
- Cosponsors
- - 1 - 0
- Introduced
- In Committee
What this bill would do
This bill is titled the ``Low-Income Housing Tax Credit Elimination Act''. It aims to amend the Internal Revenue Code of 1986. The primary purpose is to sunset the low-income housing tax credit. This would mean no new credits are determined for buildings placed in service after the date this act is enacted.
Yes
Does this reduce what the federal government spends?+1
The sunsetting of the credit reduces federal revenue through lost tax credits, though it technically reduces a spending mechanism.
The opposite· 3 of 5
Would households on low incomes be better off under this?-8
The loss of low-income housing tax credits will reduce the availability and development of affordable housing for low-income families.
Does this make housing cost less?-7
Eliminating the low-income housing tax credit removes a primary incentive for developing affordable housing.
Is this likely to lift people out of poverty?-5
Reducing affordable housing supply can negatively impact poverty reduction efforts.
Who it would affect, and how
Potential Positive Impacts for People
- There are no specific positive impacts or benefits for individuals or groups of people explicitly mentioned in the provided text.
Potential Negative Impacts for People
- End of Low-Income Housing Tax Credit: The bill would stop the determination of credits for any building placed in service in a taxable year beginning after the date of the enactment of the new subsection. This is found in Section 2.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Social Issues And Justice
- Improves Affordable Housing-7Improves Poverty Reduction-5Reduces Homelessness-5
- Demographic And Interest Groups
- Good For Low Income Households-8Good For Urban Residents-4
- Economy And Finance
- Reduces Government Spending+1
- 5/21/2025
- Referred to the House Committee on Ways and Means.
- 1 Cosponsor added.
- Introduced in House
Paul GosarRepublican · Arizona