119-hr308

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 308 Introduced in House

    (IH) ]

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119th CONGRESS
 1st Session
 H. R. 308

 To amend the Internal Revenue Code of 1986 to provide tax incentives 
 for rental housing for members of the Armed Forces.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 January 9, 2025

 Mr. Moore of Utah (for himself and Ms. Strickland) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

 A BILL

 To amend the Internal Revenue Code of 1986 to provide tax incentives 
 for rental housing for members of the Armed Forces.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; SENSE OF CONGRESS.

    (a) Short Title.--This Act may be cited as the ``Low Income Housing 
for Defense Communities Act''.

    (b) Sense of Congress.--It is the sense of Congress that in 
addition to expanding and strengthening the affordable housing credit 
for active duty military members through the provisions in the Low 
Income Housing for Defense Communities Act, further steps should be 
taken to drive investment into affordable housing projects in the 
United States and boost overall housing supply for workers and families 
in the United States, such as the Affordable Housing Credit Improvement 
Act of 2023.

SEC. 2. TAX INCENTIVES FOR RENTAL HOUSING FOR MEMBERS OF THE ARMED 
 FORCES.

    (a) Military Basic Housing Allowance Not Taken Into Account in 
Applying Certain Income Restrictions on Residential Rental Projects.--

    (1) Low-income housing tax credit.--

Section 42
            (i) of the 
 Internal Revenue Code of 1986 is amended by adding at the end 
 the following new paragraph:
 ``

    (10) Income determined without regard to military basic 
 housing allowance.--Payments under 

section 403 of title 37, 
 United States Code, as a basic pay allowance for housing shall 
 not be taken into account in determining income for purposes of 
 this section.''.

    (2) Tax-exempt bonds for qualified residential rental 
 projects.--
        (A) In general.--

Section 142
            (d) (2)
        (B) of such Code, 
 as amended by subparagraph
        (B) , is amended by inserting 
 after clause
            (i) the following new clause:
 ``
            (ii) Income determined without regard to 
 military basis housing allowance.--Payments 
 under 

section 403 of title 37, United States 
 Code, as a basic pay allowance for housing 
 shall not be taken into account in determining 
 income for purposes of clause
            (i) .''.
        (B) Repeal of deadwood.--

Section 142
            (d) (2)
        (B) of 
 such Code is amended by striking clauses
            (ii) ,
            (iii) , 
 and
            (iv) .

    (3) Effective date.--The amendments made by this subsection 
 shall apply to determinations made after the date of the 
 enactment of this Act.

    (b) Increase in Low-Income Housing Credit for Buildings Near 
Certain Large Military Installation.--

    (1) In general.--

Section 42
            (d) (5)
        (B) of the Internal 
 Revenue Code of 1986 is amended by adding at the end the 
 following new clause:
 ``
            (vi) Buildings near certain large 
 military installation.--
 ``
            (I) In general.--Any building 
 which is located within 15 miles of a 
 large military installation shall be 
 treated as located in a difficult 
 development area which is designated 
 for purposes of this subparagraph.
 ``
            (II) Large military 
 installation.--For purposes of this 
 clause, the term `large military 
 installation' means any military 
 installation with a total plant 
 replacement value (as determined by the 
 Secretary of the Defense) in excess of 
 $2,833,000,000.''.

    (2) Effective date.--The amendment made by this subsection 
 shall apply to buildings placed in service after the date of 
 the enactment of this Act.

    (3) No requirement that buildings be occupied solely by 
 members of the armed forces.--Nothing in the amendment made by 
 this subsection shall be applied or interpreted to require that 
 buildings described in 

section 42
            (d) (5)
        (B)
            (vi) of the Internal 
 Revenue Code of 1986 (as added by this section) be occupied 
 solely by members of the Armed Forces.
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