U.S. Congressman Joe Baca (D-CA) recently introduced the Affordable Housing for Moderate-Income Seniors Act (HR 6295) which would encourage the development of affordable housing for moderate-income seniors. HR 6295 would amend the Internal Revenue Code of 1986, the regulations that govern the Low-Income Housing Tax Credit (LIHTC) program, to require states to increase the number of points awarded to developments targeted at moderate-income seniors. The proposed legislation clarifies that in order to qualify for subsidized housing benefits, individuals must be 62 years of age or older, and they must have a household income no greater than 140% of their state’s designated income eligibility limit. The bill has been referred to the House Committee on Ways and Means.
The text of this bill is not yet available, NH&RA will post the text once it is made available online.
