Decent, Affordable, Safe Housing for All Act

The cost of rent has become more burdensome for some renters. According to a study by Center on Budget and Policy Priorities, during the last 20 years, rent has increased faster than income for renters in all 50 states. In addition, data from National Center for Education Statistics reveal more than 1.5 million children in the United States experienced homelessness in the 2017-2018 school year. These staggering numbers, along with the end of the eviction moratorium, many Americans face financial hardship and potential homelessness.

The COVID-19 pandemic has aggravated the housing availability and affordability crisis in the United States. The Senate has proposed the Decent, Affordable, Safe Housing for All (DASH) Act to combat the housing crisis and provide stability for many struggling individuals and families. The purpose of the DASH Act is to expand affordable housing options for homeless families to provide generational stability and allow more homeownership opportunities for young people.

The DASH Act would make housing available for all by:

• Housing those experiencing homelessness and prioritizing children and families by issuing them a Housing Choice Voucher
• Expanding the services for healthcare, childcare, financial, and nutrition to enable individuals to continue on a path of stability
• Increasing the production of affordable housing for families exiting homelessness by investing in existing programs and reforming the tax code for Low-Income Housing Tax Credit (LIHTC) properties, and establishing a Renter’s Tax Credit and Middle-Income Housing Tax Credit (MIHTC)
• Investing in homeownership and underserved communities by offering tax credits and down payment assistance to low-income Americans and first-time home buyers.
• Incentivizing environmentally friendly development strategies and land usage policies.

The DASH Act would authorize the following tax credits for individuals, families, and developers:

• Neighborhood Homes Tax Credit – to incentivize the rehabilitation of vacant homes and construction of new homes in distressed communities
• Middle-Income Housing Tax Credit – structured similarly to the Low-Income Housing Tax Credit but intends to serve households between 60 – 100% of area median income
• Renter’s Tax Credit – claimable by taxpayers who own and operate affordable housing
• Down Payment Tax Credit – offered to first-time homebuyers

The DASH Act is a comprehensive reform on American housing and homelessness. The Act addresses the affordable housing crisis through tax policy and offering tax credits, making housing more accessible to low-income individuals and families. DASH Act also reforms local zoning and housing development to further the building of affordable housing.

Maner Costerisan’s team of specialized affordable housing experts has the industry know-how, strong relationships with state and local policymakers. In addition, our experts have a proven track record of helping developers, investors, management companies, and syndicators find immediate and long-term success with their investments.

We know tax law front to back and are two steps ahead of the latest legislative changes, so you can capitalize on every tax opportunity available.

1 MIR21C84 (senate.gov)

2 Federal Rental Assistance Fact Sheets | Center on Budget and Policy Priorities (cbpp.org)

3 How Many People in the United States Are Experiencing Homelessness? | PRB