Allows a tax credit for rent paid on a taxpayer's principal residence.

The bill amends the Internal Revenue Code to introduce a refundable tax credit for rent paid on a taxpayer's principal residence. The credit is limited to $4,000 per year and is subject to an adjusted gross income limitation of $150,000. The credit percentage varies based on the number of dependents, ranging from 8.5% for one dependent to 11% for six or more dependents. The bill also establishes a program for monthly advance payments of the credit and mandates outreach efforts to inform taxpayers about the credit and advance payment options.

Allows a tax credit for rent paid on a taxpayer's principal residence.

The bill amends the Internal Revenue Code to introduce a refundable tax credit for rent paid on a taxpayer's principal residence. The credit is limited to $4,000 per year and is subject to an adjusted gross income limitation of $150,000. The credit percentage varies based on the number of dependents, ranging from 8.5% for one dependent to 11% for six or more dependents. The bill also establishes a program for monthly advance payments of the credit and mandates outreach efforts to inform taxpayers about the credit and advance payment options.