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Low-Income Housing Tax Credit Elimination Act
To amend the Internal Revenue Code of 1986 to sunset the low-income housing tax credit, and for other purposes.
Summary
The bill amends the Internal Revenue Code to eliminate the low-income housing tax credit for any buildings placed in service after the date of enactment. No tax credit would be available for new low-income housing projects developed following the bill's enactment date.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
1 cosponsor
- Rep. Gosar, Paul A. [R-AZ-9] (R-AZ)
Actions (2)
- May 21, 2025 Referred to the House Committee on Ways and Means. · house
- May 21, 2025 Introduced in House
Similar bills (6)
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Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
May 21, 2025
Mr. Grothman (for himself and Mr. Gosar) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to sunset the low-income housing tax credit, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Low-Income Housing Tax Credit Elimination Act”.
SEC. 2. SUNSET OF LOW-INCOME HOUSING TAX CREDIT.
Section 42 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
“(o) Sunset.—No credit shall be determined under subsection (a) with respect to any building placed in service in a taxable year beginning after the date of the enactment of this subsection.”. <all>
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