House Bill Would Provide Tax Credit for Supportive Services in LIHTC Buildings

Monday, June 29, 2020 - 9:15am

Five members of the House of Representatives last week introduced a bill to create a tax credit for providing services to individuals with serious and long-term disabilities who live in low-income housing tax credit (LIHTC)-financed properties. The Opportunity Starts at Home Act would provide a 25 percent credit for qualified supportive housing contributions, which the bill defines as health services, coordination of benefits, job search assistance and training, financial counseling, resident engagement services and other services for which the principal purpose is to help tenants retain permanent housing. The limit on contributions claimed would be $120,000 multiplied by the number of occupied low-income units in the building at the close of the applicable tax year. The Opportunity Starts at Home Act provisions are included in the $1.5 trillion Moving Forward Act, which was introduced last week.