Affordable Housing Construction Act

This bill amends the federal Low-Income Housing Tax Credit (LIHTC) program to increase tax credits for affordable housing developers. It raises the credit rate from $1.75 to $9.79 per dollar of construction costs and adds new 25-50% credit boosts for buildings featuring prevailing wages, renewable energy, proximity to public transit, accessibility for people with disabilities, or occupancy by extremely low-income families (earning ≤30% of local median income). The bill requires at least two-thirds of each state’s annual housing credit allocation to support these targeted projects. It directly affects developers building qualifying affordable housing, making such projects more financially viable through enhanced tax incentives.