S. 1557 · 118th Congress

Expands and renames the low-income housing tax credit

Official title: Affordable Housing Credit Improvement Act of 20231

Never got a floor voteBusiness tax breaks

§1What it does

Why this matters: A plain-English description of the bill as it was voted on, written by us from the official summary and text.

Drafted by AI from the public sources cited. Each sentence links to its source.

This bill would expand the low-income housing tax credit, a tax credit for building affordable rental housing, rename it the affordable housing tax credit, and increase the amount of credits states can award.2,3 It would change tenant income rules, bar refusing to rent to victims of domestic abuse, and revise rules on student tenants and on tenants who pay with housing vouchers.3 It would also increase the credit for projects serving extremely low-income households and for certain bond-financed projects, add Indian and rural areas to the difficult development areas that have high building costs relative to local incomes, and bar states from considering local approval or local government contributions when choosing projects.3

§2Status

StatusLatest action, April 16, 2024: Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.1
IntroducedMay 11, 2023
SponsorSen. Cantwell, Maria [D-WA]
Cosponsors34 cosponsors (17 Republican, 16 Democratic, 1 independent)
Official recordS. 1557 on Congress.gov

§3It never got a vote

Why this matters: This bill had wide support from both parties, but it never reached the House or Senate floor, so no member of Congress was ever recorded voting for or against it.

Latest action, April 16, 2024: Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.1 How bills die without a vote.

2026 candidates who sponsored or cosponsored it (9)