119th (2025–2027)
H.R. 6390
H.R. 6390 aims to increase housing affordability by redirecting approximately $175.7 billion in previously appropriated immigration enforcement funds toward new housing programs and tax credits. The bill creates multiple housing incentives, including a first-time homebuyer tax credit of up to $25,000 ($50,000 for first-generation homebuyers), a starter home construction credit for builders, tax credits for converting older commercial buildings into affordable housing, and a new refundable renter tax credit for households paying more than 30 percent of their income on rent. Additional provisions boost tax credits for low-income housing development, establish housing construction programs specifically for tribal lands, and allocate $50 million to the IRS over five years to conduct outreach and help eligible renters and homebuyers claim these new credits. These programs affect homebuyers, renters, builders, property owners, tribal governments, and state housing agencies, with most provisions applying to tax years beginning after December 31, 2023.