S 1330 · 109th Congress · Taxation
Housing America's Workforce Act
Bill Progress
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Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Finance.(2005-06-29)
Plain Language Summary
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Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. Authorizes the Secretary of Housing and Urban Development to award grants in FY2006-FY2008, on a competitive basis, to nonprofit housing organizations or local governments for certain costs, including operating costs and technical assistance costs, of employer-assisted housing programs. Requires the Secretary to establish a national clearinghouse, including a website, to provide information about employer-assisted housing programs to federal, state, and local governments and other interested entities. Directs the Comptroller General to conduct a national evaluation of employer-assisted housing programs and provide to the Secretary an interim report …
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (7)
5 Democrats2 Republicans