To amend the Internal Revenue Code of 1986 to modify the low-income housing tax credit to incentivize affordable and transit-oriented development and development in certain difficult development areas, and for other purposes.
Transit Oriented Development Act of 2022
This bill increases the low-income housing tax credit for buildings in transit-oriented development areas. The bill defines a transit-oriented development area as a designated area located within 1/2 mile from a rail, bus, harbor, or waterway station and zoned for high density. It also provides for an increase in the credit for buildings in high cost areas in non-contiguous states (i.e., Alaska and Hawaii) and U.S. possessions.
The bill directs the Department of Housing and Urban Development to study cost-of-living differences throughout the United States based on geographic location and proximity and accessibility to transit.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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