H.R. 7990 — Introduced in House

I 117th CONGRESS 2d Session H. R. 7990 IN THE HOUSE OF REPRESENTATIVES June 8, 2022Ms. Sewell (for herself, Mr. Wenstrup, Mr. Danny K. Davis of Illinois, and Mr. Murphy of North Carolina) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to temporarily expand the low-income housing tax credit for healthcare-oriented housing. 1. Short title This Act may be cited as the Healthy Homes Act. 2. Temporary expansion of low-income housing tax credit for healthcare-oriented housing (a) In general Section 42 of the Internal Revenue Code of 1986 is amended by redesignating subsection (n) as subsection (o) and inserting after subsection (m) the following new subsection: (n) Special rules for healthcare-Oriented housing (1) Additional basis adjustment for healthcare-oriented housing With respect to housing credit amounts allocated to healthcare-oriented housing during the specified period— (A) in the case of a new building, the eligible basis of such building as otherwise determined under this section (determined without regard to this paragraph and subsection (d)(5)(B)), shall be increased by 50 percent of such eligible basis (as so determined), and (B) in the case of an existing building, the rehabilitation expenditures otherwise taken into account under subsection (e) (determined without regard to this paragraph and subsection (d)(5)(B)), shall be increased by 50 percent of such expenditures (as so determined). (2) Additional housing credit dollar amount for healthcare-oriented housing (A) In general In the case of the specified period, the State housing credit ceiling otherwise determined under this section shall be increased by the lesser of— (i) the aggregate housing credit dollar amount allocated by the State housing credit agency of such State to healthcare-oriented housing for such calendar year, or (ii) the healthcare-oriented housing amount for such State for such calendar year. (B) Healthcare-oriented housing amount For purposes of subparagraph (A), the term healthcare-oriented housing amount means $1.00 multiplied by the State population. (C) Carryover Any excess of the healthcare-oriented housing amount for a calendar year over the amount in subparagraph (A)(i) for such calendar year shall be taken into account as an increase in the healthcare-oriented housing amount for the following calendar year. The preceding sentence shall not result in an increase with respect to any calendar year after 2025. (3) Specified period For purposes of this subsection, the term ‘specified period’ means the period beginning 210 days after the date of the enactment of this subsection and ending on the last day of the third full calendar year beginning after the start of the specified period. (4) Healthcare-oriented housing For purposes of this subsection, the term healthcare-oriented housing means any qualified low-income building which meets at least three of the following the additional requirements: (A) Social determinants of health screenings The developer partners with a hospital, health center, or other healthcare institution to conduct social determinants of health screenings on the building premises for each new resident upon move-in and annually thereafter, unless the resident elects not to have such a screening. (B) Healthcare onsite The building contains sufficient physical space and proper equipment for physicians or other appropriate licensed healthcare providers to hold regular health screenings on-site for residents and community members. (C) Telehealth component The building contains broadband infrastructure and physical hardware sufficient to ensure that video conferencing capabilities for telehealth interactions will be available to residents and the developer has partnered with healthcare providers to participate in the provision of telehealth services and outreach. (D) Classroom and kitchen The building has classroom space to conduct community health and nutrition workshops and a demonstration kitchen to facilitate healthy cooking demonstrations for residents and the community and the developer has partnered with a hospital, health center, or other healthcare institution to provide such workshops and demonstrations. (E) Healthcare service coordination A medical assistant or trained healthcare worker who connects residents to both healthcare and community services is located in the building on at least a part-time basis. (5) Adjusted basis Notwithstanding subsection (d)(4), the adjusted basis of healthcare-oriented housing shall include nonresidential space used to satisfy the requirements in paragraph (5). (6) Placed in service date The placed in service date for healthcare-oriented housing shall be determined based on the residential portion of the property. . (b) Coordination with high-Cost areas Section 42(d)(5)(B)(i) of such Code is amended— (1) by striking shall be 130 percent of such basis determined without regard to this subparagraph in subclause (I) and inserting as otherwise determined under this section (determined without regard to this subparagraph and subsection (n)(1)), shall be increased by 30 percent of such eligible basis (as so determined), and (2) by striking taken into account under subsection (e) shall be 130 percent of such expenditures determined without regard to this subparagraph in subclause (II) and inserting otherwise taken into account under subsection (e) (determined without regard to this subparagraph and subsection (n)(1)), shall be increased by 30 percent of such expenditures (as so determined). (c) Effective date The amendments made by this section shall apply to housing credit amounts allocated during the specified period (as defined in section 42(n)(3) of such Code). (d) Study and report (1) Study The Comptroller General of the United States shall conduct a study on the utilization of the low income housing tax credit under section 42 of the Internal Revenue Code of 1986 with respect to healthcare-oriented housing. (2) Report Not later than two years after the date of the enactment of this subsection, the Comptroller General of the United States shall submit to the Committee on Finance of the Senate and the Committee on Ways and Means of the House of Representatives a report on the study conducted under paragraph (1). Such report shall include an examination of the utilization of the low income housing tax credit in each State with respect to healthcare-oriented housing, including— (A) the frequency with which the additional one dollar housing credit amount allocated to each State for such low income housing tax credit development projects is claimed, (B) the number of projects and units funded in each State, and (C) the use of the additional 50 percent basis boost in securing such healthcare-oriented low income housing development projects.