Working Families Housing Tax Credit Act

This bill establishes a new tax credit to encourage the development of housing for working families. It provides a credit equal to 50% of the qualified basis for new buildings and 60% for existing buildings, calculated over a 15-year period. To qualify, properties must have at least 40% of units rent-restricted and occupied by households earning up to 180% of area median income, with 20% of units reserved for those earning 60% or less of area median income. The bill also includes $100 million in funding for infrastructure grants and loans to support housing development in rural and exurban areas.