Representatives Davis and Wenstrup Introduce Housing for Homeless Youth Act

Representatives Davis and Wenstrup Introduce Housing for Homeless Youth Act

Monday, October 28, 2019 Representatives Davis and Wenstrup Introduced Housing for Homeless Youth Act (HR4865). The legislation increases affordable housing for homeless or formerly-homeless youth or veterans by creating a limited exception to the Low-Income Housing Tax Credit (LIHTC) student rule to allow homeless or formerly-homeless individuals, as defined by the gold-standard McKinney-Vento Education for Homeless Children and Youth Act,.who are full-time students, to live in LIHTC units.

AA survey by researchers at Temple University and the college affordability-focused Wisconsin HOPE Lab found that 36 percent of all college students and 46 percent of community college students were considered to be housing insecure. Nine percent of four-year college students and 12 percent of community college students reported experiencing completely homeless in the past year@ stated Representative Davis. AOffering students housing security with this limited, common sense adjustment to the LIHTC could prevent youth from being forced to choose between completing a college degree or stable housing.@

The Low-Income Housing Tax Credit (LIHTC) provides a reduction in tax liability for developers that build or rehabilitate affordable rental housing units. It has been successfully used to build properties intended for individuals and families who have experienced homelessness.

“Students and veterans who have battled homelessness should have access to affordable housing while pursuing a full-time education. This bill will ensure that individuals who would otherwise qualify for Low-Income Housing Tax Credit housing can remain eligible for affordable units while clearly earning a degree and investing in their futures,” said Congressman Wenstrup.

Senators Rob Portman (R-OH), Sherrod Brown (D-OH), and Angus King (I-ME) have a companion bill in the Senate.Representatives Davis and Wenstrup Introduce Housing for Homeless Youth Act

Monday, October 28, 2019 Representatives Davis and Wenstrup Introduced Housing for Homeless Youth Act (HR4865). The legislation increases affordable housing for homeless or formerly-homeless youth or veterans by creating a limited exception to the Low-Income Housing Tax Credit (LIHTC) student rule to allow homeless or formerly-homeless individuals, as defined by the gold-standard McKinney-Vento Education for Homeless Children and Youth Act,.who are full-time students, to live in LIHTC units.

"A survey by researchers at Temple University and the college affordability-focused Wisconsin HOPE Lab found that 36 percent of all college students and 46 percent of community college students were considered to be housing insecure. Nine percent of four-year college students and 12 percent of community college students reported experiencing completely homeless in the past year" stated Representative Davis. "Offering students housing security with this limited, common sense adjustment to the LIHTC could prevent youth from being forced to choose between completing a college degree or stable housing."

The Low-Income Housing Tax Credit (LIHTC) provides a reduction in tax liability for developers that build or rehabilitate affordable rental housing units. It has been successfully used to build properties intended for individuals and families who have experienced homelessness.

“Students and veterans who have battled homelessness should have access to affordable housing while pursuing a full-time education. This bill will ensure that individuals who would otherwise qualify for Low-Income Housing Tax Credit housing can remain eligible for affordable units while clearly earning a degree and investing in their futures,” said Congressman Wenstrup.

Senators Rob Portman (R-OH), Sherrod Brown (D-OH), and Angus King (I-ME) have a companion bill in the Senate.