Supporting Small Affordable Housing Developers Act
The source supplies the latest action, but no lifecycle stage.
Latest action (23 Sep 2026): Read twice and referred to the Committee on Finance.
What this bill does
The Supporting Small Affordable Housing Developers Act would amend the Internal Revenue Code. It aims to exclude certain financial assistance for developing or rehabilitating affordable housing from taxable gross income. This includes grants from government entities or certain non-profit organizations, as well as cash received from selling transferable tax credits related to affordable housing development. The bill defines "eligible taxpayer" as a business meeting a gross receipts test (with an inflation adjustment) and engaging in specific construction, real estate, or rental activities.
The bill also addresses the discharge of certain debts related to financing affordable housing. If a debt qualifies as "qualified affordable housing indebtedness" and is incurred by an eligible taxpayer to finance affordable housing development or rehabilitation, its discharge would also be excluded from gross income. This provision is intended to provide financial relief to entities involved in affordable housing projects.
Currently, this bill has just been introduced in the Senate by Senator Peter Welch and has been referred to the Committee on Finance. It has not yet been passed by either the Senate or the House of Representatives. The next steps in the legislative process would involve committee review, potential amendments, and votes in the Senate, followed by consideration in the House of Representatives if passed by the Senate.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Timeline
23 Sep 2026
Read twice and referred to the Committee on Finance.
Common questions
- What does S. 5472 do?
- The Supporting Small Affordable Housing Developers Act would amend the Internal Revenue Code. It aims to exclude certain financial assistance for developing or rehabilitating affordable housing from taxable gross income. This includes grants from government entities or certain non-profit organizations, as well as cash received from selling transferable tax credits related to affordable housing development. The bill defines "eligible taxpayer" as a business meeting a gross receipts test (with an inflation adjustment) and engaging in specific construction, real estate, or rental activities. The bill also addresses the discharge of certain debts related to financing affordable housing. If a debt qualifies as "qualified affordable housing indebtedness" and is incurred by an eligible taxpayer to finance affordable housing development or rehabilitation, its discharge would also be excluded from gross income. This provision is intended to provide financial relief to entities involved in affordable housing projects. Currently, this bill has just been introduced in the Senate by Senator Peter Welch and has been referred to the Committee on Finance. It has not yet been passed by either the Senate or the House of Representatives. The next steps in the legislative process would involve committee review, potential amendments, and votes in the Senate, followed by consideration in the House of Representatives if passed by the Senate.
- Has S. 5472 become law?
- The source does not supply a confirmed lifecycle stage for S. 5472. Check the latest action and official source below.
- Who sponsored S. 5472?
- S. 5472 was sponsored by Sen. Welch, Peter [D-VT] (D-VT), with 0 cosponsors.
- What's the latest action on S. 5472?
- Read twice and referred to the Committee on Finance. (23 Sep 2026).
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