Affordable Housing Construction Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 5156 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 5156 To amend the Internal Revenue Code of 1986 to enhance the low-income housing tax credit, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES September 24, 2024 Mr. Whitehouse (for himself and Mr. Reed) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to enhance the low-income housing tax credit, and for other purposes. 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 ``Affordable Housing Construction Act''. SEC. 2. INCREASE IN STATE HOUSING CREDIT CEILING. (a) In General.--Section 42(h)(3)(C)(ii) of the Internal Revenue Code of 1986 is amended-- (1) by striking ``$1.75'' in subclause (I) and inserting ``$9.79'', and (2) by striking ``$2,000,000'' in subclause (II) an…