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Bill

A 6695

Relates to amending the low income housing tax credit eligibility requirements

2025 Regular Session Introduced by Maritza Davila and 2 co-sponsors

Bill A 6695 amends Low Income Housing Tax Credit eligibility to boost affordable housing access for low-income families and incentivize developers to invest.

REFERRED TO HOUSING
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Bill Summary · A 6695

Summary of Bill A 6695

Bill Information

  • Bill Number: A 6695
  • Title: Relates to amending the low income housing tax credit eligibility requirements
  • Status: Referred to Housing
  • Introduced: March 06, 2025
  • Classification: Bill

Purpose and Intent

Bill A 6695 aims to amend the eligibility requirements for the Low Income Housing Tax Credit (LIHTC) program. The primary intent of this legislation is to enhance access to affordable housing for low-income individuals and families by revising the criteria that determine who qualifies for these tax credits.

Key Provisions

While the specific text of the bill is not provided, the following are anticipated changes based on the title and context of similar legislation:

  • Revised Eligibility Criteria: The bill may propose new income thresholds or adjustments to the current metrics used to assess eligibility for the LIHTC program.
  • Increased Accessibility: The amendments could include provisions that make it easier for developers to qualify for tax credits, thereby incentivizing the construction and rehabilitation of affordable housing units.
  • Focus on Underserved Populations: The bill may emphasize support for specific demographics, such as families with children, seniors, or individuals with disabilities, ensuring that the benefits of the LIHTC program reach those most in need.

Affected Parties

  • Low-Income Families: The primary beneficiaries of the bill would be low-income individuals and families who seek affordable housing options.
  • Developers and Housing Authorities: Changes to the eligibility requirements could impact developers who participate in the LIHTC program, potentially leading to increased investment in affordable housing projects.
  • Local Governments: Municipalities may experience changes in housing availability and affordability, influencing local housing policies and planning.

Procedural Aspects

  • Current Status: As of March 6, 2025, the bill has been referred to the Housing Committee for further consideration. This is an essential step in the legislative process, where committee members will review the bill, hold hearings, and potentially make amendments before it is brought to the floor for a vote.
  • Related Bills: Bill A 6695 is associated with several prior-session bills (A 6813, A 6268, A 6262, A 4406, A 1264) and has a companion bill in the Senate (S 3997). These related bills may provide context or additional frameworks that could influence the discussions surrounding A 6695.

Conclusion

Bill A 6695 represents a significant effort to reform the Low Income Housing Tax Credit program, aiming to improve access to affordable housing for low-income residents. As it progresses through the legislative process, stakeholders will be closely monitoring its developments and potential impacts on housing policy.

Compiled from official sources — confirm details with the bill’s official record.

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