,i #aafth ,,congress #ast ,session ,h4 ,r4 #dhjh ,,in ,,the ,,house ,,of ,,representatives ,october #bc1 #bjai,mr4 ,clyburn introduced the following bill2 which was referred to the ,committee on ,ways and ,means1 and in addition to the ,committees on ,financial ,services1 and ,transportation and ,infrastructure1 for a period to be subsequently determined by the ,speaker1 in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned ,a ,,bill ,to require ,community ,development ,block ,grant and ,surface ,transportation ,block ,grant recipients to develop a strategy to support inclusive zoning policies1 to allow for a credit to support housing affordability1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,housing1 ,opportunity1 ,mobility1 and ,equity ,act of #bjai4 #b4 ,requirement for ,,cdbg grantees ,section #ajd of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecjd7 is amended by adding at the end the following3 7n7 ,strategy ,to increase the affordable housing stock 7#a7 ,in general ,each grantee receiving assistance under this title shall-- 7,a7 include in the consolidated plan required under part #ia of title #bd1 ,code of ,federal ,regulations 7or any successor thereto7 a strategy to support new inclusive zoning policies1 programs1 or regulatory initiatives that create a more affordable1 elastic1 and diverse housing supply and thereby increase economic growth and access to jobs and housing2 and 7,b7 implement the strategy described in subparagraph 7,a7 and demonstrate continuous progress in advancing the goals described in section 7#b77;,a71 and include such implementation and progress in the annual performance report submitted under section #ia4ebj of title #bd1 ,code of ,federal ,regulations 7or any successor thereto74 7#b7 ,inclusions ,the strategy under paragraph 7#a7 shall-- 7,a7 demonstrate-- 7i7 transformative activities in communities that-- 7,i7 reduce barriers to housing development1 including affordable housing2 and 7,,ii7 increase housing supply affordability and elasticity2 and 7ii7 strong connections between housing1 transportation1 and workforce planning2 7,b7 include1 as appropriate1 policies relating to inclusive land use1 such as-- 7i7 for the purpose of adding affordable units1 increasing both the percentage and absolute number of affordable units-- 7,i7 authorizing high-density and multifamily zoning2 7,,ii7 eliminating off-street parking requirements2 7,,iii7 establishing density bonuses1 defined as increases in permitted density of a housing development conditioned upon the inclusion of affordable housing in such development2 7,,iv7 streamlining or shortening permitting processes and timelines2 7,v7 removing height limitations2 7,,vi7 establishing by-right development1 defined as the elimination of discretionary review processes when zoning standards are met2 7,,vii7 using property tax abatements2 and 7,,viii7 relaxing lot size restrictions2 7ii7 prohibiting source of income discrimination2 7iii7 taxing vacant land or donating vacant land to nonprofit developers2 7iv7 allowing accessory dwelling units2 7v7 establishing development tax or value capture incentives2 and 7vi7 prohibiting landlords from asking prospective tenants for their criminal history2 and 7,c7 provide that affordable housing units should1 to the maximum extent practicable and unless alternate policies would result in more rapid progress toward and achievement of the goals described in paragraph 7#b77;,a7-- 7i7 be designated as affordable for the useful life of the units2 7ii7 a proportion of the new housing stock in the community that equals or exceeds the percentage of the population of the community requiring such units in order to not be an eligible individual under section #cf;,a of the ,internal ,revenue ,code of #aihf 7as added by section #d of the ,housing1 ,opportunity1 ,mobility1 and ,equity ,act of #bjai72 and 7iii7 be accessible to the population served by the program established under this title2 and 7,d7 where applicable1 specify how the strategy will increase affordable housing options for individuals living in rural areas1 persistent poverty counties 7defined as any county with a poverty rate of at least #bj percent1 as determined in each of the #aiij and #bjjj decennial censuses1 and in the ,bureau of the ,census's ,small ,area ,income and ,poverty ,estimates for the most recent year for which the estimates are available71 and high-poverty areas 7defined as any census tract with a poverty rate of at least #bj percent as measured by the #e-year data series available from the ,american ,community ,survey of the ,census ,bureau for #bjac to #bjag74 4 #c4 ,requirement for surface transportation block grant program ,section #acc of title #bc1 ,united ,states ,code1 is amended-- 7#a7 by redesignating subsection 7i7 as subsection 7j72 and 7#b7 by inserting after subsection 7h7 the following3 7i7 ,implementation of ,affordable ,housing ,strategy ,a project under this section may not be carried out unless the community in which the project is located has implemented a strategy to increase affordable housing stock as described in subsection 7n7 of section #ajd of the ,housing and ,community ,development ,act of #aigd 7#db ,u4,s4,c4 #ecjd74 4 #d4 ,refundable credit for rent costs of eligible individuals 7a7 ,in general ,subpart ,c of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by inserting after section #cf the following new section3 #cf;,a4 ,rent costs of eligible individuals 7a7 ,in general ,in the case of an eligible individual1 there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year an amount equal to the excess of-- 7#a7 the lesser of-- 7,a7 the small area fair market rent 7or1 if the small area fair market rent is not available1 the fair market rent71 including the utility allowance1 published by the ,department of ,housing and ,urban ,development for purposes of the housing choice voucher program under section #h7o7 of the ,united ,states ,housing ,act of #aich-- 7i7 in the case of a household comprised of one individual1 for an efficiency1 and 7ii7 in the case of a household comprised of more than one individual1 for a residence in which the number of bedrooms would not require-- 7,i7 more than two members of the household to share a bedroom1 7,,ii7 children of different genders to share a bedroom with one another1 or 7,,iii7 a household member with a disability requiring medical equipment to share a bedroom1 or 7,b7 the rent paid during the taxable year by the individual 7and1 if married1 the individual's spouse7 for the principal residence of the individual1 over 7#b7 an amount equal to #cj percent of the adjusted gross income of the taxpayer for the taxable year4 7b7 ,eligible individual ,for purposes of this section-- 7#a7 ,in general ,the term eligible individual means any individual if the rent paid during the taxable year by the individual 7and1 if married1 the individual's spouse7 for the principal residence of the individual exceeds #cj percent of the adjusted gross income of the taxpayer for the taxable year4 7#b7 ,exceptions ,such term shall not include any individual if-- 7,a7 the individual does not include on the return of tax for the taxable year such individual's taxpayer identification number and1 if married1 the taxpayer identification number of such individual's spouse1 or 7,b7 a deduction under section #aea with respect to such individual is allowable to another taxpayer for the taxable year4 7#c7 ,married individuals ,such term shall include an individual who is married only if a joint return is filed for the taxable year4 7#d7 ,special rules 7,a7 ,principal residence ,the term principal residence has the same meaning as when used in section #aba4 7,b7 ,married ,marital status shall be determined under section #ggjc4 7c7 ,rent ,for purposes of this section1 rent paid includes any amount paid for utilities of a type taken into account for purposes of determining the utility allowance under section #db7;g77#b77;,b77ii74 7d7 ,coordination with certain means-,tested programs ,rules similar to the rules of section #cb7l7 shall apply to refunds made by reason of this section4 7e7 ,reconciliation of ,credit and ,advance ,payments ,the amount of the credit allowed under this section for any taxable year shall be reduced 7but not below zero7 by the aggregate amount of any advance payments of such credit under section #gebg;,a for such taxable year4 4 7b7 ,advance ,payment of ,rental ,costs ,tax ,credit 7#a7 ,in general ,chapter #gg of the ,internal ,revenue ,code of #aihf is amended by inserting after section #gebg the following new section3 #gebg;,a4 ,advance payment of rental costs tax credit 7a7 ,in general ,not later than #f months after the date of the enactment of the ,housing1 ,opportunity1 ,mobility1 and ,equity ,act of #bjai1 the ,secretary shall establish a program for making advance payments of the credit allowed under section #cf;,a on a monthly basis 7determined without regard to subsection 7e7 of such section7 to any taxpayer who-- 7#a7 the ,secretary has determined1 in the manner provided in subsection 7c71 will be allowed such credit for the taxable year1 and 7#b7 has made an election under subsection 7d74 7b7 ,amount of ,advance ,payment 7#a7 ,in general ,for purposes of subsection 7a71 the amount of the monthly advance payment of the credit provided to a taxpayer during the applicable period shall be equal to the lesser of-- 7,a7 an amount equal to-- 7i7 the amount of the credit which the ,secretary has estimated1 in the manner provided in subsection 7c71 will be allowed to such taxpayer under section #cf;,a for the taxable year ending in such applicable period1 divided by 7ii7 #ab1 or 7,b7 such other amount as is elected by the taxpayer4 7#b7 ,applicable period ,for purposes of this section1 the term applicable period means the #ab-month period from the month of ,july of the taxable year through the month of ,june of the subsequent taxable year4 7c7 ,manner of ,determining ,eligibility ,the ,secretary shall determine eligibility for the credit under section #cf;,a1 and the estimated amount of such credit1 based on the taxpayer's adjusted gross income for the preceding taxable year1 the mean fair market rental amount with respect to the individual for such preceding year1 and the rent paid during such preceding year by the individual 7and1 if married1 the individual's spouse7 for the principal residence of the individual4 ,any terms used in this subsection which are also used in section #cf;,a shall have the same meaning as when used in such section4 7d7 ,election of ,advance ,payment ,a taxpayer may elect to receive an advance payment of the credit allowed under section #cf;,a for any taxable year by including such election on a timely filed return for the preceding taxable year4 7e7 ,internal ,revenue ,service ,notification ,the ,internal ,revenue ,service shall take such steps as may be appropriate to ensure that taxpayers who are eligible to receive the credit under section #cf;,a are aware of the availability of the advance payment of such credit under this section4 7f7 ,authority ,the ,secretary may prescribe such regulations or other guidance as may be appropriate or necessary for the purposes of carrying out this section4 4 7c7 ,clerical amendments 7#a7 ,the table of sections for subpart ,c of part ,,iv of subchapter ,a of chapter #a of the ,internal ,revenue ,code of #aihf is amended by inserting after the item relating to section #cf the following new item3 ,sec4 #cf;,a4 ,rent costs of eligible individuals4 4 7#b7 ,the table of sections for chapter #gg of such ,code is amended by inserting after the item relating to section #gebg the following new item3 ,sec4 #gebg;,a4 ,advance payment of rental costs tax credit4 4 7d7 ,conforming amendment ,section #fbaa7;b77#d77;,a7 of the ,internal ,revenue ,code of #aihf is amended by inserting 1 #cf;,a after #cf4 7e7 ,effective date ,the amendments made by this section shall apply to taxable years beginning after the date of the enactment of this ,act4 7f7 ,report ,not later than #b years after the date of the enactment of this ,act1 the ,secretary of the ,treasury shall submit to ,congress a report on the credit allowed under section #cf;,a of the ,internal ,revenue ,code of #aihf 7as added by subsection 7a77 and the advance payment of such credit under section #gebg;,a of such ,code 7as added by subsection 7b771 including on whether taxpayers are fraudulently claiming such credit or advance payments4 #e4 ,refund to ,rainy ,day ,savings ,program 7a7 ,in general ,not later than ,december #ca1 #bjah1 the ,secretary of the ,treasury or the ,secretary's delegate 7referred to in this section as the ,secretary7 shall establish and implement a program 7referred to in this section as the ,refund to ,rainy ,day ,savings ,program7 to allow a participating taxpayer1 pursuant to the requirements established under this section1 to defer payment on #bj percent of the amount which would otherwise be refunded to such taxpayer as an overpayment 7as described in section #fdja of the ,internal ,revenue ,code of #aihf74 7b7 ,period of deferral ,except as provided under subsection 7c77#e71 a participating taxpayer may elect to defer payment of the amount described in subsection 7a7 and have such amount deposited in the ,rainy ,day ,fund 7as described in subsection 7c774 7c7 ,rainy ,day ,fund 7#a7 ,in general ,the ,secretary shall establish a fund1 in such manner as the ,secretary determines to be appropriate1 to be known as the ,rainy ,day ,fund1 consisting of any amounts described in subsection 7a7 on which payment has been deferred by participating taxpayers4 7#b7 ,investment ,any amounts deposited in the ,rainy ,day ,fund shall be invested by the ,secretary1 in coordination with the ,bureau of the ,fiscal ,service of the ,department of the ,treasury1 in ,united ,states ,treasury bills issued under chapter #ca of title #ca1 ,united ,states ,code1 with maturities suitable for the needs of the ,fund and selected so as to provide the highest return on investment for participating taxpayers4 7#c7 ,disbursements from fund 7,a7 ,in general ,on the date that is #ahj days after receipt of the individual income tax return of a participating taxpayer1 the amounts in the ,rainy ,day ,fund shall be made available to the ,secretary to distribute to such taxpayer in an amount equal to the amount deferred by such taxpayer under subsection 7a7 and any interest accrued on such amount 7as determined under paragraph 7#d774 7,b7 ,distributed to bank account ,the amounts described in subparagraph 7,a7 shall be distributed to the bank account identified by the participating taxpayer under subsection 7d77#c74 7#d7 ,interest accrued ,the amount of interest accrued on the amount deferred by a participating taxpayer under subsection 7a7 shall be determined by the ,secretary1 in coordination with the ,bureau of the ,fiscal ,service of the ,department of the ,treasury1 based upon the return on the investment of such amounts under paragraph 7#b74 7#e7 ,early withdrawal 7,a7 ,in general ,on any date during the period between the date which is #cj days after receipt by the ,secretary of the individual income tax return of the participating taxpayer and ,october #ae of the applicable year1 such taxpayer may elect to terminate the deferral of the amount described under subsection 7a7 and receive a distribution from the ,rainy ,day ,fund equal to such amount and any interest which has accrued on such amount up to that date4 7,b7 ,complete withdrawal ,a participating taxpayer making an election under subparagraph 7,a7 must terminate deferral of the full amount described under subsection 7a71 and such amount shall be distributed to the bank account identified by the participating taxpayer under subsection 7d77#c74 7d7 ,participating taxpayer ,for purposes of this section1 the term participating taxpayer means a taxpayer who-- 7#a7 has not requested or received an extension of the time for payment of taxes for such taxable year under section #fafa of the ,internal ,revenue ,code of #aihf2 7#b7 prior to the due date for filing the return of tax for such taxable year1 elects to participate in the ,refund to ,rainy ,day ,savings ,program2 and 7#c7 provides the ,secretary with a bank account number and any other financial information deemed necessary by the ,secretary for purposes of paragraphs 7#c77;,b7 and 7#e77;,b7 of subsection 7c74 7e7 ,forms ,the ,secretary shall ensure that the election to defer payment of the amount described in subsection 7a7 may be claimed on ,forms #ajdj1 #ajdj;,a1 and #ajdj;,,ez4 7f7 ,implementation 7#a7 ,educational materials and outreach ,the ,secretary shall-- 7,a7 design educational materials for taxpayers regarding financial savings and the ,refund to ,rainy ,day ,savings ,program2 7,b7 publicly disseminate and distribute such materials during the first calendar quarter of each calendar year and following disbursement of amounts described in subsection 7c77#c72 and 7,c7 engage in outreach regarding the ,refund to ,rainy ,day ,savings ,program to the ,volunteer ,income ,tax ,assistance program and paid tax preparers4 7#b7 ,information for participating taxpayers ,the ,secretary shall ensure that a participating taxpayer is able to electronically verify the status of the amount deferred by such taxpayer under subsection 7a71 including any interest accrued on such amount and the status of any distribution4 7#c7 ,federally funded benefits ,any amounts described in subsection 7a7 which are distributed to a participating taxpayer1 including any interest accrued on such amount1 shall be treated in the same manner as any refund made to such taxpayer under section #cb of the ,internal ,revenue ,code of #aihf for purposes of determining the eligibility of such taxpayer for benefits or assistance1 or the amount or extent of benefits or assistance1 under any ,federal program or under any ,state or local program financed in whole or in part with ,federal funds4