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S. 5472 (119th Congress)Committee
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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.

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Summary

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Based on the bill's title, this legislation would amend the Internal Revenue Code to exclude from gross income grants and transferrable tax credits that support affordable housing development. The bill appears designed to provide tax incentives for affordable housing projects by allowing developers and recipients to receive such grants and credits without counting them as taxable income.

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