Bill Sponsor
Senate Bill 1106
116th Congress(2019-2020)
Rent Relief Act of 2019
Introduced
Introduced
Introduced in Senate on Apr 10, 2019
Overview
Text
Introduced
Apr 10, 2019
Latest Action
Apr 10, 2019
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1106
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
Democrat
California
Democrat
New Hampshire
Senate Votes (0)
House Votes (0)
No Senate votes have been held for this bill.
Summary

Rent Relief Act of 2019

This bill allows a refundable tax credit for individuals who pay rent for a principal residence that exceeds 30% of the individual's gross income for the taxable year.

The amount of the credit ranges from 25% to 100% of the excess rent, depending on the gross income of the taxpayer. The credit is not available for taxpayers with gross income that exceeds $100,000 ($125,000 for a taxpayer whose principal residence is located in a high-cost area, as defined by the bill). Rent that exceeds 100% of the small area fair market rent (including the utility allowance) for the residence may not be taken into account for the purpose of determining the amount of the credit.

For individuals who reside in government-subsidized housing, the bill allows a credit equal to 1/12 of the rent paid by the taxpayer (and not subsidized under the program) during the year with respect to the residence.

The Department of the Treasury must establish a program for making advance payments of the credit on a monthly basis.

Text (1)
April 10, 2019
Actions (2)
04/10/2019
Read twice and referred to the Committee on Finance.
04/10/2019
Introduced in Senate
Public Record
Record Updated
Nov 1, 2022 7:32:19 PM