INCREASE Housing Affordability Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 537 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 537 To amend the Internal Revenue Code of 1986 to provide tax credits for the conversion of commercial buildings to residential units, to provide support and technical assistance to State and local housing agencies to identify and advance housing conversion opportunities for underutilized commercial buildings, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 16, 2025 Ms. Sherrill introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide tax credits for the conversion of commercial buildings to residential units, to provide support and technical assistance to State and local housing agencies to identify and advance housing conversion opportunities for underutilized commercial buildings, 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 ``Incentivizing New Conversions to Residential Entities to Accelerate Supply and Expand Housing Affordability Act'' or the ``INCREASE Housing Affordability Act''. SEC. 2. COMMERCIAL-TO-RESIDENTIAL CREDIT. (a) In General.--Section 46 of the Internal Revenue Code of 1986 is amended by redesignating paragraph (7) as paragraph (8), by redesignating the paragraph (6) relating to the advanced manufacturing investment credits as paragraph (7), by striking ``and'' at the end of paragraph (7