Affordable Housing Credit Improvement Act of 2023

The Affordable Housing Credit Improvement Act of 2023 updates the federal Low-Income Housing Tax Credit program to create more affordable housing options. Key provisions include increasing state funding allocations through revised per capita and minimum amount calculations, modifying tenant eligibility rules to better protect vulnerable populations (including domestic violence victims), and expanding the program's reach to Native American communities and rural areas. The bill also changes the program's name from "Low-income Housing Credit" to "Affordable Housing Credit" and makes administrative improvements to enhance transparency and accountability. These changes aim to make it easier for developers to create and maintain affordable housing units for low- and moderate-income households.