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# Summary of H.R. 9380: Working Families Housing Tax Credit Act This bill creates a new federal tax credit called the "Working Families Housing Credit" (Section 42A) to encourage development of affordable rental housing for working families including teachers, firefighters, police officers, and veterans. The credit would apply to both new construction and rehabilitated buildings that meet income and affordability requirements, with 20 percent of units reserved for households earning no more than 60 percent of area median income and 40 percent of units for households earning up to 180 percent of area median income depending on the unit designation. The tax credit operates through a 15-year credit period and would be allocated by state housing agencies with an initial annual funding level of $1 per capita or $1.5 million per state (adjusted for inflation after 2024). States can allocate up to 10 percent of their annual credit to nonprofit organizations developing working families housing. The bill also authorizes $100 million in grants and below-market-rate loans for infrastructure projects (water, sewer, roads, and clean energy) in rural and exurban areas to support these housing developments. The credit is subject to prevailing wage requirements and includes safeguards requiring developers to maintain affordability commitments for at least 15 years after the credit period ends. The bill applies to buildings placed in service after December 31, 2024, and becomes effective for taxable years ending after that date.

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