,i  #aaith ,,congress  #b;d ,session    
,h4 ,r4 #gbaf  ,,in ,,the ,,house ,,of  
,,representatives  ,january #bb1 #bjbf  
,mr4 ,kean 7for himself and ,mr4        
,mackenzie7 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 establish the housing
 affordability credit4  #a4 ,short title
 ,this ,act may be cited as the ,make   
,american ,housing ,affordable 7,,maha7 
,act of #bjbf4  #b4 ,housing            
affordability credit  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 ,housing
 affordability credit  7a7 ,allowance of
 credit ,in the case of an eligible     
individual1 there shall be allowed      
#e1jjj 7twice such amount in the case of
 a joint return7 as a credit against the
 tax imposed by this subtitle4  7b7     

,eligible individual ,for purposes of   
this section1 the term eligible         
individual means1 with respect to a     
taxable year1 an individual--  7#a7 who 
purchases a principal residence 7as such
 term is used in section #aba7 during   
such taxable year1 and  7#b7 with       
respect to whom no credit has been      
allowed during the #d taxable years     
preceding such taxable year4  7c7       
,phaseout  7#a7 ,in general ,the amount 
of the credit allowed under subsection  
7a7 shall be reduced by the amount which
 bears the same ratio to #ej1jjj 7twice 
such amount in the case of a joint      
return7 as the excess of-- 7,a7 the     
modified adjusted gross income of the   
individual1 over  7,b7 #bej1jjj 7twice  
such amount in the case of a joint      
return74  7#b7 ,modified adjusted gross 
income ,for purposes of this subsection1
 the term modified adjusted gross income
 means the adjusted gross income of the 
taxpayer for the taxable year increased 
by any amount excluded from gross income

 under section #iaa1 #ica1 or #icc4  4  
7b7 ,conforming amendments  7#a7        
,section #fbaa7;b77#d77;,a7 of the      
,internal ,revenue ,code of #aihf is    
amended by inserting 1 #cf;,c after     
#cf;,b4  7#b7 ,section #acbd7;b77#b7 of 
title #ca1 ,united ,states ,code1 is    
amended by inserting 1 #cf;,c after 1   
#cf;,b4  7#c7 ,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 ,housing affordability    
credit4  4  7c7 ,effective date ,the    
amendments made by this section shall   
apply to taxable years beginning after  
the date of the enactment of this ,act4