,i #aahth ,,congress #ast ,session ,h4 ,r4 #fgba ,,in ,,the ,,house ,,of ,,representatives ,december #ab1 #bjbc,mr4 ,davis of ,illinois 7for himself1 ,mr4 ,gomez1 ,mr4 ,peters1 ,mr4 ,panetta1 ,ms4 ,jacobs1 ,mr4 ,carson1 ,mr4 ,mullin1 ,ms4 ,lee of ,california1 ,ms4 ,norton1 ,mr4 ,evans1 ,mr4 ,thanedar1 ,ms4 ,tlaib1 ,ms4 ,crockett1 ,mrs4 ,watson ,coleman1 ,ms4 ,jackson ,lee1 ,mr4 ,carter of ,louisiana1 ,mr4 ,lieu1 ,mr4 ,johnson of ,georgia1 ,ms4 ,sewell1 ,ms4 ,wilson of ,florida1 and ,ms4 ,schakowsky7 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 allow for a credit against tax for rent paid on the personal residence of the taxpayer4 #a4 ,short title ,this ,act may be cited as the ,rent ,relief ,act of #bjbc4 #b4 ,refundable credit for rent paid for principal residence 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;,b the following new section3 #cf;,c4 ,renter tax credit 7a7 ,in general ,in the case of an individual who leases the individual's principal residence 7within the meaning of section #aba7 during the taxable year and who pays rent with respect to such residence in excess of #cj percent of the taxpayer's adjusted gross income for such taxable year1 there shall be allowed as a credit against the tax imposed by this subtitle for such taxable year an amount equal to the applicable percentage of such excess4 7b7 ,credit limited by #ajj percent of small area fair market rent ,solely for purposes of determining the amount of the credit allowed under subsection 7a7 with respect to a residence for the taxable year1 there shall not be taken into account rent in excess of an amount equal to #ajj percent of the small area fair market rent 7including the utility allowance7 applicable to the residence involved 7as most recently published1 as of the beginning of the taxable year1 by the ,department of ,housing and ,urban ,development74 7c7 ,definitions and special rules ,for purposes of this section-- 7#a7 ,applicable percentage ,the term applicable percentage means the percentage determined in accordance with the following table3 ,the applicable,if the taxpayer's adjusted gross income is3percentage is3,not over #be1jjjajj percent,over #be1jjj1 but not over #ej1jjjge percent,over #ej1jjj1 but not over #ge1jjjej percent,over #ge1jjj1 but not over #ajj1jjjbe percent,over #ajj1jjjj percent4 7#b7 ,partial year residence ,the ,secretary shall prescribe such rules as are necessary to carry out the purposes of this section for taxpayers with respect to whom a residence is a principal residence for only a portion of the taxable year4 7#c7 ,rent ,the term rent 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 7#d7 ,married individuals filing separate returns ,in the case of individuals who are married to each other1 have the same principal residence1 and do not file a joint return for the taxable year1 the credit determined under this section with respect to each such individual shall be #ej percent of the amount of the credit which would be determined under this section if such individuals filed a joint return1 unless such individuals agree on a different division of such credit 7in such manner as the ,secretary may provide7 which does not aggregate to more #ajj percent of such amount4 7d7 ,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;,b for such taxable year4 4 7b7 ,advance payment ,chapter #gg of the ,internal ,revenue ,code of #aihf is amended by inserting after section #gebg;,a the following new section3 #gebg;,b4 ,advance payment of renter tax credit 7a7 ,in general ,not later than #f months after the date of the enactment of the ,rent ,relief ,act of #bjbc1 the ,secretary shall establish a program for making advance payments of the credit allowed under section #cf;,c on a monthly basis to any taxpayer who-- 7#a7 the ,secretary has determined will be allowed such credit for the taxable year1 and 7#b7 has made an election under subsection 7c74 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 determined will be allowed to such taxpayer under section #cf;,c 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 ,election of advance payment ,a taxpayer may elect to receive an advance payment of the credit allowed under section #cf;,c for any taxable year by including such election on a timely filed return for the preceding taxable year4 7d7 ,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;,c are aware of the availability of the advance payment of such credit under this section4 7e7 ,regulations ,the ,secretary may prescribe such regulations or other guidance as may be necessary or appropriate to carry out the purposes this section4 4 7c7 ,clerical amendments 7#a7 ,in general ,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;,b the following new item3 ,sec4 #cf;,c4 ,renter tax credit4 4 7#b7 ,advance payment ,the table of sections for chapter #gg of such ,code is amended by inserting after the item relating to section #gebg;,a the following new item3 ,sec4 #gebg;,b4 ,advance payment of renter tax credit4 4 7d7 ,effective date ,the amendments made by this section shall apply with respect to taxable years beginning after ,december #ca1 #bjbc4 7e7 ,community outreach ,immediately upon the enactment of this ,act1 in addition to amounts otherwise available1 there are appropriated out of any money in the ,treasury not otherwise appropriated #ej1jjj1jjj to remain available until #e years after the enactment of this ,act for necessary expenses for the ,internal ,revenue ,service to support efforts to increase enrollment of eligible households in the ,renter ,tax ,credit allowed under section #cf;,c of the ,internal ,revenue ,code of #aihf 7including the advance payment of such credit under section #gebg;,b of such ,code71 including but not limited to program outreach1 costs of data sharing arrangements1 systems changes1 forms changes1 and related efforts1 and efforts by ,federal agencies to facilitate the cross-enrollment of beneficiaries of other programs in such ,renter ,tax ,credit1 including by establishing intergovernmental cooperative agreements with ,states and local governments1 tribal governments1 and possessions of the ,united ,states3 ,provided1 that such amount shall be available in addition to any amounts otherwise available3 ,provided further1 that these funds may be awarded by ,federal agencies to ,state and local governments1 tribal governments1 and possessions of the ,united ,states1 and private entities1 including organizations dedicated to free tax return preparation4