119-hr3126

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3126 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 3126

 To amend the Internal Revenue Code of 1986 to increase the low-income 
 housing credit for projects that use water submetering.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 April 30, 2025

 Ms. Tenney 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 increase the low-income 
 housing credit for projects that use water submetering.

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

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Promoting Submetering for Affordable 
Housing Act''.

SEC. 2. INCREASE IN CREDIT FOR PROJECTS THAT USE WATER SUBMETERING.

    (a) In General.--Paragraph

    (5) of 

section 42
            (d) of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
subparagraph:
 ``
            (C) Increase in credit for projects that use 
 water submetering.--In the case of any building--
 ``
            (i) which contains 4 or more units,
 ``
            (ii) which uses water submeters for 
 purposes of billing each unit separately, and
 ``
            (iii) in which tenants have access to 
 read water submeters, including in landlord-
 controlled areas, within 72 hours of making a 
 request for such information,
 the eligible basis of such building shall be 105 
 percent of such basis determined without regard to this 
 subparagraph.''.

    (b) Effective Date.--The amendment made by this section shall apply 
to buildings which receive allocations of housing credit dollar amount 
or, in the case of projects financed by tax-exempt obligations as 
described in 

section 42

    (h)

    (4) of the Internal Revenue Code of 1986, 
which are first taken into account under 

section 146 of such Code, 
after the date of the enactment of this Act.
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