A lack of quality and affordable housing options for moderate-income senior citizens is a growing problem in many of our communities in the Inland Empire. To help solve this dilemma, I proudly introduced H.R. 6295, The Affordable Housing for Moderate-Income Seniors Act, in the House of Representatives.
This bill works to increase the supply of affordable rental housing available for middle-income seniors, who are ineligible to receive subsidized housing benefits that go to the lowest-income individuals. H.R. 6295 amends the Internal Revenue Code of 1986 to require states receiving low-income housing tax credits from the federal government to provide additional credit points on their Qualified Action Plan criteria for developers who are able to build moderate-income housing for seniors. This adjustment to the tax code would mark the first time in over 40 years there has been an incentive to build affordable rental housing solely for moderate-income families.
After a lifetime of service to our country, seniors in the Inland Empire and across the nation deserve access to safe, affordable housing. By providing new tax incentives for developers, we can help create a larger supply of rental housing options for our seniors and at the same time provide a boost to our continuing economic recovery.
JOE BACA, Congressman
43rd Congressional District