U.S. Congress legislation · 119th Congress
SB5472: Supporting Small Affordable Housing Developers Act
Status: In committee, September 23, 2026
A bill to amend the Internal Revenue Code of 1986 to exclude from gross income grants and the proceeds of transferrable tax credits supporting the development of affordable housing, and for other purposes.
What the bill says
To amend the Internal Revenue Code of 1986 to exclude from gross income grants and the proceeds of transferrable tax credits supporting the development of affordable housing, and for other purposes.
From the introduced text, September 23, 2026:
To amend the Internal Revenue Code of 1986 to exclude from gross income grants and the proceeds of transferrable tax credits supporting the development of affordable housing, and for other purposes. SECTION 1. Short title This Act may be cited as the Supporting Small Affordable Housing Developers Act . SECTION 2. Certain amounts supporting affordable housing excluded from gross income (a) In general Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting before section 140 the following new section: SECTION 139M. Certain amounts supporting affordable housing (a) In general In the case of an eligible taxpayer, gross income shall not include-- (1) any affordable housing grant, or (2) any income received in cash from the sale of any transferrable affordable housing tax credit. (b) Eligible taxpayer (1) In general For purposes of this section, the term eligible taxpayer means any taxpayer-- (A) which meets the gross receipts test of section 448(c) (determined by substituting $36,000,000 for $25,000,0000 in paragraph (1) thereof), and (B) which conducts a trade or business to which any of the following North American Industry Classification Codes applies: (i) 237210. (ii) 238300. (iii) 531110. (iv) 23611. (2) Inflation adjustment In the case of any taxable year beginning after December 31, 2027, the $36,000,000 dollar amount in paragraph …
Sponsors
- Welch, Peter (D) · primary sponsor
Latest actions
- : Read twice and referred to the Committee on Finance.
- : Introduced in Senate
Subjects: Taxation
Common questions
- What is SB5472?
- SB5472 is a bill in Congress (119th Congress): Supporting Small Affordable Housing Developers Act.
- What does SB5472 do?
- In its own words: To amend the Internal Revenue Code of 1986 to exclude from gross income grants and the proceeds of transferrable tax credits supporting the development of affordable housing, and for other purposes.
- What is the status of SB5472?
- In committee as of September 23, 2026. Latest action: Read twice and referred to the Committee on Finance. (September 23, 2026).
- Who sponsored SB5472?
- Welch, Peter (D).
- Where is the official record for SB5472?
- On the Congress website: https://www.congress.gov/bill/119th-congress/senate-bill/5472
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.