This bill would prohibit developers and organizations from receiving the federal low-income housing tax credit if they maintain diversity, equity, and inclusion initiatives. The low-income housing tax credit is a major federal incentive that helps finance affordable housing by allowing investors to claim tax deductions. The restriction would apply to all types of entities including corporations, partnerships, and S corporations, as well as individual investors involved in these structures. The bill would take effect for tax years beginning after it becomes law, meaning its impact on future housing projects could be immediate. By disqualifying entities with DEI programs from this tax credit, the legislation could reduce the financial incentive for building and maintaining affordable housing, potentially limiting affordable housing development in communities across the country.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.