Bill Seeks to Boost Affordable Housing for Low-Income Seniors
Congressman Joe Baca of California recently introduced legislation aimed at increasing the number of senior housing sites built under the low-income housing tax credit program. His bill, H.R. 6295, would require states to provide additional points in their qualified allocation plans to developers building affordable senior communities.
States allocated an average of 26 percent of their tax credit authority to elderly housing in 2010, according to statistics in the National Council of State Housing Agencies’ recently released 2010 Factbook. “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,” Baca said in a statement. “I am glad to introduce this legislation, which provides a responsible pathway to increase the supply of rental housing available to seniors who may be struggling to get by but have incomes that are too high to qualify for subsidized housing benefits.”
The legislation also clarifies that individuals must be 62 years old or older and have a household income no greater than 140 percent of their state’s designated income eligibility limit for subsidized housing benefits.