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S 1078 110th Congress Senate Taxation Commerce Congress Congressional investigations Corporation taxes Cost of living adjustments Economics and Public Finance Employee benefit plans Federal aid to housing Finance and Financial Sector Government Operations and Politics Government publicity Home ownership Housing and Community Development Housing finance Housing subsidies Income tax Indexing (Economic policy) Labor and Employment Mortgages

Housing America's Workforce Act

Introduced: April 10, 2007 See on congress.gov
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 10, 2007
Read twice and referred to the Committee on Finance.
Apr 10, 2007
Sponsor introductory remarks on measure. (CR S4309-4310)
Apr 10, 2007
Introduced in Senate
 Plain-English summary Congressional Research Service

Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance.

Authorizes the Secretary of Housing and Urban Development to award grants in FY2008-FY2010, on a competitive basis, to nonprofit housing organizations or local governments for certain costs, including operating costs and technical assistance costs, of employer-assisted housing programs. Requires the Secretary to establish a national clearinghouse, including a website, to provide information about employer-assisted housing programs to federal, state, and local governments and other interested entities.

Directs the Comptroller General to conduct a national evaluation of employer-assisted housing programs and provide to the Secretary an interim report by January 1, 2011, and final report by December 31, 2012.

What's happening now April 10, 2007

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1