PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Jun 25, 2020
Emergency Affordable Housing Act of 2020
This bill enhances provisions of the low-income housing tax credit and adjusts the credit to provide assistance during the COVID-19 (i.e., coronavirus disease 2019) pandemic.
Specifically, the bill
Showing the opening paragraphs of the official summary.
increases to three years (currently, two years) following an allocation of housing credits, the period for making rehabilitation expenditures for a low-income housing tax credit project;
extends to three years the period during which a project may be placed in service and remain eligible for the credit;
reduces for a two-year period the financing percentage for an affordable housing project from 50% to 25%;
establishes a 4% minimum credit rate for affordable housing projects that received a housing credit allocation after 2019;
makes permanent the expansion of the 9% housing tax credit;
increases the credit for low-income housing tax credit buildings that designate at least 20% of their occupied units for extremely low-income households;
increases the credit during a specified temporary period to compensate for construction or leasing delays due to the COVID-19 pandemic; and
allows a credit for low-income housing supportive services.
People & committees
Sen. Wyden, Ron [D-OR] · D–OR
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Read twice and referred to the Committee on Finance.
Introduced in Senate
Primary sources
Text links open the official source. We currently store references to these documents.
Source last updated: Jan 3, 2025. Consult Congress.gov for the current record.
AI Conversation Starters
Choose a perspective, copy a prompt, and paste it into your preferred AI. Each prompt includes the bill version and available official source links, and asks for counterarguments as well as supporting evidence.
Analyze S.4078 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine S.4078 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
Examine S.4078 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.
Examine S.4078 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.