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HR 8357 117th Congress House Taxation

Rent Relief Act of 2022

Introduced: July 13, 2022 Introduced by: Davis, Danny K. Democratic · Illinois See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 13, 2022
Referred to the House Committee on Ways and Means.
Jul 13, 2022
Sponsor introductory remarks on measure. (CR E727)
Jul 13, 2022
Introduced in House
 Plain-English summary Congressional Research Service

Rent Relief Act of 2022

This bill allows a refundable income tax credit for individuals who pay rent for a principal residence that exceeds 30% of their adjusted gross income for the taxable year.

The amount of the credit ranges from 25% to 100% of the excess rent, depending on the adjusted gross income of the taxpayer. The credit is not available for taxpayers with adjusted gross incomes that exceed $100,000. Rent that exceeds 100% of the small area fair market rent (including the utility allowance) for the residence may not be taken into account in determining the amount of the credit.

The Department of the Treasury must establish a program for making advance payments of the credit on a monthly basis.

What's happening now July 13, 2022

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 4