American Affordability Act of 2025: tax credits and deductions for housing, education, and clean energy.

The American Affordability Act of 2025 amends the Internal Revenue Code to extend and modify various tax credits and deductions. It extends the low-income housing credit, modifies the prevailing wage and apprenticeship requirements, and adjusts the credit for certain property transferred to utilities. The act also enhances the clean energy production credit, modifies the student occupancy rules, and clarifies the general public use requirement for housing projects. Additionally, it introduces new credits for affordable housing conversions, water reuse projects, and advanced battery projects.

American Affordability Act of 2025: tax credits and deductions for housing, education, and clean energy.

The American Affordability Act of 2025 amends the Internal Revenue Code to extend and modify various tax credits and deductions. It extends the low-income housing credit, modifies the prevailing wage and apprenticeship requirements, and adjusts the credit for certain property transferred to utilities. The act also enhances the clean energy production credit, modifies the student occupancy rules, and clarifies the general public use requirement for housing projects. Additionally, it introduces new credits for affordable housing conversions, water reuse projects, and advanced battery projects.