Enhances the low-income housing tax credit by increasing credit amounts and modifying eligibility criteria.

The bill amends the Internal Revenue Code to enhance the low-income housing tax credit. It increases credit amounts for new and existing buildings, particularly those serving households with disabilities, extremely low-income families, and those utilizing renewable energy. The bill also modifies the extended use period for certain buildings from 15 to 35 years. Additionally, it sets aside a portion of the state housing credit ceiling for specific projects and increases the state housing credit ceiling amounts.

Enhances the low-income housing tax credit by increasing credit amounts and modifying eligibility criteria.

The bill amends the Internal Revenue Code to enhance the low-income housing tax credit. It increases credit amounts for new and existing buildings, particularly those serving households with disabilities, extremely low-income families, and those utilizing renewable energy. The bill also modifies the extended use period for certain buildings from 15 to 35 years. Additionally, it sets aside a portion of the state housing credit ceiling for specific projects and increases the state housing credit ceiling amounts.