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Senate Finance Committee member Dean Heller (R-NV) recently introduced the Seniors Affordable Housing Tax Credit Act, S. 3580, which would establish a tax credit for owners of multifamily rental property who agree to rent to extremely low-income seniors. The tax credit would cover the difference between the senior household’s rent payment, at the lesser of 30 percent of the individual household’s income or the fair market rent, and the rent the owner would otherwise charge for a comparable unit in the building.
