,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #cifd  ,,in ,,the ,,house ,,of  
,,representatives  ,june #ab1 #bjbe,mr4 
,gomez 7for himself and ,ms4 ,del,bene7 
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    
increase the low-income housing tax     
credit for projects designated to serve 
extremely low-income households4  #a4   
,short title ,this ,act may be cited as 
the ,affordable ,housing ,equity ,act of
 #bjbe4  #b4 ,increase in credit for    
certain projects designated to serve    
extremely low-income households  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 projects        
designated to serve extremely low-income
 households ,in the case of any         
building-- 7i7 #bj percent or more of   
the residential units 7determined as if 

the imputed income limitation applicable
 to such units were #cj percent of area 
median gross income7 in which are       
designated by the taxpayer for occupancy
 by households the aggregate household  
income of which does not exceed the     
greater of--  7,i7 #cj percent of area  
median gross income1 or  7,,ii7 #ajj    
percent of an amount equal to the       
,federal poverty line 7within the       
meaning of section #cf;,b7d77#c771 and  
7ii7 which is designated by the housing 
credit agency as requiring the increase 
in credit under this subparagraph in    
order for such building to be           
financially feasible as part of a       
qualified low-income housing project1   
subparagraph 7,b7 shall not apply to the
 portion of such building which is      
comprised of such units 7determined in a
 manner similar to the unit fraction    
under subsection 7c77#a77;,c771 and the 
eligible basis of such portion of the   
building shall be #aej percent of such  
basis determined without regard to this 

subparagraph4  7b7 ,effective date ,the 
amendment made by this section shall    
apply to buildings which receive        
allocations of housing credit dollar    
amount after the date of enactment of   
this ,act1 or in the case of buildings  
that are described in section           
#db7;h77#d77;,b7 of the ,internal       
,revenue ,code of #aihf1 for obligations
 that are part of an issue the issue    
date of which is after ,december #ca1   
#bjbe4