Us Congress 2025-2026 Regular Session

Us Congress House Bill HB308 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	119THCONGRESS
3	3	1
4	4	STSESSION H. R. 308
5	5	To amend the Internal Revenue Code of 1986 to provide tax incentives
6	6	for rental housing for members of the Armed Forces.
7	7	IN THE HOUSE OF REPRESENTATIVES
8	8	JANUARY9, 2025
9	9	Mr. M
10	10	OOREof Utah (for himself and Ms. STRICKLAND) introduced the
11	11	following bill; which was referred to the Committee on Ways and Means
12	12	A BILL
13	13	To amend the Internal Revenue Code of 1986 to provide
14	14	tax incentives for rental housing for members of the
15	15	Armed Forces.
16	16	Be it enacted by the Senate and House of Representa-1
17	17	tives of the United States of America in Congress assembled, 2
18	18	SECTION 1. SHORT TITLE; SENSE OF CONGRESS. 3
19	19	(a) S
20	20	HORTTITLE.—This Act may be cited as the 4
21	21	‘‘Low Income Housing for Defense Communities Act’’. 5
22	22	(b) S
23	23	ENSE OFCONGRESS.—It is the sense of Con-6
24	24	gress that in addition to expanding and strengthening the 7
25	25	affordable housing credit for active duty military members 8
26	26	through the provisions in the Low Income Housing for De-9
27	27	fense Communities Act, further steps should be taken to 10
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30	30	•HR 308 IH
31	31	drive investment into affordable housing projects in the 1
32	32	United States and boost overall housing supply for work-2
33	33	ers and families in the United States, such as the Afford-3
34	34	able Housing Credit Improvement Act of 2023. 4
35	35	SEC. 2. TAX INCENTIVES FOR RENTAL HOUSING FOR MEM-5
36	36	BERS OF THE ARMED FORCES. 6
37	37	(a) M
38	38	ILITARYBASICHOUSINGALLOWANCENOT 7
39	39	T
40	40	AKENINTOACCOUNT INAPPLYINGCERTAININCOME 8
41	41	R
42	42	ESTRICTIONS ONRESIDENTIALRENTALPROJECTS.— 9
43	43	(1) L
44	44	OW-INCOME HOUSING TAX CREDIT .—Sec-10
45	45	tion 42(i) of the Internal Revenue Code of 1986 is 11
46	46	amended by adding at the end the following new 12
47	47	paragraph: 13
48	48	‘‘(10) I
49	49	NCOME DETERMINED WITHOUT REGARD 14
50	50	TO MILITARY BASIC HOUSING ALLOWANCE .—Pay-15
51	51	ments under section 403 of title 37, United States 16
52	52	Code, as a basic pay allowance for housing shall not 17
53	53	be taken into account in determining income for 18
54	54	purposes of this section.’’. 19
55	55	(2) T
56	56	AX-EXEMPT BONDS FOR QUALIFIED RESI -20
57	57	DENTIAL RENTAL PROJECTS .— 21
58	58	(A) I
59	59	N GENERAL.—Section 142(d)(2)(B) 22
60	60	of such Code, as amended by subparagraph (B), 23
61	61	is amended by inserting after clause (i) the fol-24
62	62	lowing new clause: 25
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66	66	‘‘(ii) INCOME DETERMINED WITHOUT 1
67	67	REGARD TO MILITARY BASIS HOUSING AL -2
68	68	LOWANCE.—Payments under section 403 3
69	69	of title 37, United States Code, as a basic 4
70	70	pay allowance for housing shall not be 5
71	71	taken into account in determining income 6
72	72	for purposes of clause (i).’’. 7
73	73	(B) R
74	74	EPEAL OF DEADWOOD .—Section 8
75	75	142(d)(2)(B) of such Code is amended by strik-9
76	76	ing clauses (ii), (iii), and (iv). 10
77	77	(3) E
78	78	FFECTIVE DATE.—The amendments made 11
79	79	by this subsection shall apply to determinations 12
80	80	made after the date of the enactment of this Act. 13
81	81	(b) I
82	82	NCREASE INLOW-INCOMEHOUSINGCREDIT 14
83	83	FORBUILDINGSNEARCERTAINLARGEMILITARYIN-15
84	84	STALLATION.— 16
85	85	(1) I
86	86	N GENERAL.—Section 42(d)(5)(B) of the 17
87	87	Internal Revenue Code of 1986 is amended by add-18
88	88	ing at the end the following new clause: 19
89	89	‘‘(vi) B
90	90	UILDINGS NEAR CERTAIN 20
91	91	LARGE MILITARY INSTALLATION .— 21
92	92	‘‘(I) I
93	93	N GENERAL.—Any building 22
94	94	which is located within 15 miles of a 23
95	95	large military installation shall be 24
96	96	treated as located in a difficult devel-25
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100	100	opment area which is designated for 1
101	101	purposes of this subparagraph. 2
102	102	‘‘(II) L
103	103	ARGE MILITARY INSTAL -3
104	104	LATION.—For purposes of this clause, 4
105	105	the term ‘large military installation’ 5
106	106	means any military installation with a 6
107	107	total plant replacement value (as de-7
108	108	termined by the Secretary of the De-8
109	109	fense) in excess of $2,833,000,000.’’. 9
110	110	(2) E
111	111	FFECTIVE DATE.—The amendment made 10
112	112	by this subsection shall apply to buildings placed in 11
113	113	service after the date of the enactment of this Act. 12
114	114	(3) N
115	115	O REQUIREMENT THAT BUILDINGS BE OC -13
116	116	CUPIED SOLELY BY MEMBERS OF THE ARMED 14
117	117	FORCES.—Nothing in the amendment made by this 15
118	118	subsection shall be applied or interpreted to require 16
119	119	that buildings described in section 42(d)(5)(B)(vi) of 17
120	120	the Internal Revenue Code of 1986 (as added by 18
121	121	this section) be occupied solely by members of the 19
122	122	Armed Forces. 20
123	123	Æ
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