Workforce Housing Tax Credit Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 8626 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 8626 To amend the Internal Revenue Code of 1986 to provide a credit for middle-income housing, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 30, 2026 Mr. Panetta (for himself, Mr. Carey, and Mr. Nunn of Iowa) 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 provide a credit for middle-income housing, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Workforce Housing Tax Credit Act''. SEC. 2. MIDDLE-INCOME HOUSING TAX CREDIT. (a) In General.--Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 42 the following new section: ``SEC. 42A. MIDDLE-INCOME HOUSING CREDIT. ``(a) In General.--For purposes of section 38, the amount of the middle-income housing credit determined under this section for any taxable year in the credit period shall be an amount equal to-- ``(1) the applicable percentage, of ``(2) the qualified basis of each qualified middle-income building. ``(b) Applicable Percentage.-- ``(1) Determination of applicable percentage.--For purposes of this section-- ``(A) In general.--The term `applicable percentage' means, with respect to any building, the appropriate percentage prescribed by the Secretary for the earlier of-- ``(i) the month in which such building is placed in service, or ``(ii) at the election of the taxpayer, the month in which the taxpayer and the housing credit agency enter into an agreement with respect to such building (which is bindi