U.S. Congress legislation · 119th Congress
HB537: INCREASE Housing Affordability Act
Status: Passed one chamber, March 5, 2026
To amend the Internal Revenue Code of 1986 to provide tax credits for the conversion of commercial buildings to residential units, to provide support and technical assistance to State and local housing agencies to identify and advance housing conversion opportunities for underutilized commercial buildings, and for other purposes.
What the bill says
To amend the Internal Revenue Code of 1986 to provide tax credits for the conversion of commercial buildings to residential units, to provide support and technical assistance to State and local housing agencies to identify and advance housing conversion opportunities for underutilized commercial buildings, and for other purposes.
From the introduced text, January 16, 2025:
A BILL To amend the Internal Revenue Code of 1986 to provide tax credits for the conversion of commercial buildings to residential units, to provide support and technical assistance to State and local housing agencies to identify and advance housing conversion opportunities for underutilized commercial buildings, and for other purposes. SECTION 1. Short title This Act may be cited as the Incentivizing New Conversions to Residential Entities to Accelerate Supply and Expand Housing Affordability Act or the INCREASE Housing Affordability Act . SECTION 2. Commercial-to-residential credit (a) In general Section 46 of the Internal Revenue Code of 1986 is amended by redesignating paragraph (7) as paragraph (8), by redesignating the paragraph (6) relating to the advanced manufacturing investment credits as paragraph (7), by striking and at the end of paragraph (7) (as so redesignated), by striking the period at the end of paragraph (8) (as so redesignated) and inserting , and , and by adding at the end the following new paragraph: (9) the commercial-to-residential credit. . (b) Amount of credit Subpart E of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 48E the following new section: SECTION 48F. Commercial-to-residential credit (a) In general For purposes of section 46, the commercial-to-residential credit for any taxable year is …
Sponsors
- Rebecca Sherrill (D, HD-NJ-11) · primary sponsor
- Robert Garcia (D, HD-CA-42)
- Seth Magaziner (D, HD-002)
- Norton, Eleanor (D, HD-000)
- Josh Harder (D, HD-CA-9)
- Eugene Vindman (D, HD-007)
- Seth Moulton (D, HD-006)
- Danny Davis (D, HD-IL-7)
- Jim Costa (D)
- Emilia Sykes (D, HD-013)
- Andre Carson (D, HD-IN-7)
- Shri Thanedar (D, HD-013)
Latest actions
- : ASSUMING FIRST SPONSORHSIP - Mr. Magaziner asked unanimous consent that he may be hereafter be considered as the first sponsor of H.R. 537, a bill originally introduced by Representative Sherrill, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.
- : Submitted in House
- : Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- : Introduced in House
Subjects: Income tax credits, Taxation, Urban and suburban affairs and development, Housing supply and affordability, Building construction
Common questions
- What is HB537?
- HB537 is a bill in Congress (119th Congress): INCREASE Housing Affordability Act.
- What does HB537 do?
- In its own words: To amend the Internal Revenue Code of 1986 to provide tax credits for the conversion of commercial buildings to residential units, to provide support and technical assistance to State and local housing agencies to identify and advance housing conversion opportunities for underutilized commercial buildings, and for other purposes.
- What is the status of HB537?
- Passed one chamber as of March 5, 2026. Latest action: ASSUMING FIRST SPONSORHSIP - Mr. Magaziner asked unanimous consent that he may be hereafter be considered as the first sponsor of H.R. 537, a bill originally introduced by Representative Sherrill, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection. (March 5, 2026).
- Who sponsored HB537?
- Rebecca Sherrill (D, HD-NJ-11), with 11 co-sponsors.
- Where is the official record for HB537?
- On the Congress website: https://www.congress.gov/bill/119th-congress/house-bill/537
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.