Senator Heller Introduces Seniors Affordable Housing Tax Credit

Earlier this month, Senator Dean Heller (R-NV) introduced a new Seniors Affordable Housing Tax Credit to incentivize housing owners and developers to rent to low-income seniors. The bill would create a tax credit program that allocates credit to states, with states responsible for awarding the Credits to owners and developers who rent their properties to low-income seniors. Qualified seniors would pay no more than 30 percent of their income for rent and utilities, with the rental unit’s owner receiving a federal tax credit as compensation for any potential loss. Senator Heller was an original co-sponsor on the Cantwell-Hatch Affordable Housing Credit Improvement Act (S. 548), as well as the Task Force on the Impact of the Affordable Housing Crisis Act (S. 3231), bipartisan legislation introduced in July to examine the impact that the national shortage of affordable housing has on all areas of life. Enterprise thanks Senator Heller for his commitment to addressing the nation’s affordable housing crisis.

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