,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #hifi  ,,in ,,the ,,house ,,of  
,,representatives  ,december #ae1       
#bjbj,ms4 ,gabbard introduced the       
following bill2 which was referred to   
the ,committee on ,ways and ,means  ,a  
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to modify the low-income
 housing credit to incentivize          
affordable and transit-oriented         
development1 and for other purposes4    
#a4 ,short title ,this ,act may be cited
 as the ,transportation ,oriented       
,development ,act of #bjbj4  #b4        
,low-income housing credit for          
transit-oriented development areas  7a7 
,in general ,section #db7;d77#e7 of the 
,internal ,revenue ,code of #aihf is    
amended by adding at the end the        
following new subparagraph3  7,c7       
,increase in credit for buildings in    
transit-oriented development areas  7i7 
,in general ,in the case of any building
 located in a transit-oriented          
development area which is designated for

 purposes of this subparagraph-- 7,i7 in
 the case of a new building1 the        
eligible basis of such building shall be
 #aej percent of such basis determined  
without regard to this subparagraph1 and
  7,,ii7 in the case of an existing     
building1 the rehabilitation            
expenditures taken into account under   
subsection 7e7 shall be #aej percent of 
such expenditures determined without    
regard to this subparagraph4  7ii7      
,transit-oriented development area ,for 
purposes of this subparagraph1 the term 
transit-oriented development area means 
an area designated by the ,secretary of 
,housing and ,urban ,development and    
,state housing credit agency as located 
in an area within #a_/d of a mile from a
 rail1 bus1 harbor1 or waterway station 
and as zoned for high-density4  7iii7   
,limit on areas designated ,the portions
 of metropolitan statistical areas which
 may be designated for purposes of this 
subparagraph shall not exceed an        
aggregate area having #bj percent of the

 population of such metropolitan        
statistical areas4 ,a comparable rule   
shall apply to nonmetropolitan          
statistical areas4  7iv7 ,coordination  
with high cost areas ,if the eligible   
basis of a new building1 or the         
rehabilitation expenditures with respect
 to an existing building1 are determined
 pursuant to subparagraph 7,b71 such    
building shall not be treated as located
 in a transit-oriented development area 
for purposes of this subparagraph4  4   
7b7 ,effective date ,the amendment made 
by this section shall apply to buildings
 placed in service after the date of the
 enactment of this ,act4  #c4 ,,hud     
study regarding adjustment of tax credit
 allocations to reflect geographic      
cost-of-living differences ,the         
,secretary of ,housing and ,urban       
,development shall conduct a study to   
identify cost-of-living differences     
throughout the ,united ,states based on 
geographic location and proximity and   
accessibility to transit4 ,not later    

than the expiration of the #a-year      
period beginning on the date of the     
enactment of this ,act1 the ,secretary  
shall submit a report to the ,congress  
setting forth the results and           
conclusions of the study and            
recommending formulas for the adjustment
 of annual allocations to the ,states of
 low-income housing tax credits under   
section #db of the ,internal ,revenue   
,code of #aihf 7#bf ,u4,s4,c4 #db7 to   
reflect such cost-of-living differences4