Repeal the Trump Tax Hike on Victims of Sexual Harassment Act of 2018

Tax Cuts and Jobs Act (TCJA) Permanency H.R.8913, TCJA Permanency Act, to amend the Internal Revenue Code of 1986 to make permanent certain provisions of the Tax Cuts and Jobs Act affecting individuals, families, and small businesses, and for other purposes, Sec 101: Modification of rates, Section 111: Deduction for qualified business income, Section 112: Limitation on losses for taxpayers other than corporations, and Sec 151: Increase in estate and gift exemption NMHC supports extending individual tax rates and 20 percent qualified business income tax deduction that expires at the end of 2025 Estate Tax NMHC supports making permanent the Estate Tax rules enacted as part of the Tax Cuts and Jobs Act of 2017. Carried interest NMHC believes that carried interest should be treated as a long-term capital gain if the underlying asset is held for at least one year. Like-Kind exchanges NMHC supports retaining current law Low-Income Housing Tax Credit and Middle-Income Housing Tax Credit S. 2820, Decent, Affordable, Safe Housing for All Act (DASH Act), to provide rental housing vouchers for the homeless, and for other purposes, Title I -- Housing Assistance, Subtitle A -- General Housing Assistance, Section 111: Rental Vouchers for the Homeless, portion of section pertaining to source of income rules; Title II -- Revenue Provisions: Sections 201-214 pertaining to the Low-Income Housing Tax Credit, Section 215 establishing a renter's tax credit, and Section 216 establishing a middle-income housing tax credit. Draft legislation, to amend the Internal Revenue Code of 1986 to establish a Workforce Housing Tax Credit, and for other purposes, all provisions. H.R. 2573, Affordable Housing Credit Improvement Act of 2021, to reform the low-income housing credit, and for other purposes, all provisions and potential new provisions for inclusion when bill is reintroduced in 118th Congress. S. 1136, Affordable Housing Credit Improvement Act of 2021, to reform the low-income housing credit, and for other purposes, all provisions and potential new provisions for inclusion when bill is reintroduced in 118th Congress. Low-Income Housing Tax Credit Provisions in Potential Year-End Tax Legislation: NMHC supported including in any potential year-end tax legislation provisions to: (1) expand LIHTC credit authority by 50 percent but at a minimum extend the 12.5 percent increase in LIHTC credit authority available in 2018-2021 adjusted for inflation; (2) enhance the use of existing private activity bond authority by reducing the bond financing threshold to maximize 4 percent Low-Income Housing Tax Credits to 25 percent from 50 percent; and (3) increase the state allocation of private activity bonds. Additional issues pertaining to the Low-Income Housing Tax Credit: Regulatory proposals involving: Right of first refusal at the end of the 15-year compliance period, Casualty Losses, the flexible use of Private Activity Bond carryforward authority for affordable housing purposes, application of the Violence Against Women Act to the Low-Income Housing Tax Credit, Disaster Low-Income Housing Tax Credits authorized as part of the Consolidated Appropriations Act of 2021, and the continued qualification of Over-Income Tenants; Legislative Proposal to further target the Low-Income Housing Tax Credit to extremely low-income households. Proposals for tax incentives to spur workforce housing production Department of the Treasury, Internal Revenue Service, 26 CFR Part 1, TD 9967, RIN 1545-BO92, Section 42, Low-Income Housing Credit Average Income Test Regulations. Internal Revenue Service, Notice 2022-52, additional temporary relief from certain requirements under Internal Revenue Code Section 42 pertaining to low-income housing tax credit projects. Bonus Depreciation NMHC supports extension of 100 bonus depreciation that expired at the end of 2022. Deductibility of Business Interest NMHC supports permanent extension (or at least through 2025) of ability to use EBITDA (as opposed to EBIT) for purposes of applying limits on interest deductibility Federal tax policies impacting the conversion of property (e.g., conversion of office buildings into housing) H.R. 4759, Revitalizing Downtowns Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses, all provisions. S. 2511, Revitalizing Downtowns Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses, all provisions. Made proposal to enable jurisdictions that reduce zoning barriers to use tax-exempt bonds to encourage repurposing of non-residential properties into housing. Opportunity Zones NMHC supports reducing the basis increase necessary to qualify a multifamily rehabilitation project for Opportunity Zone purposes. Energy Tax Incentives Internal Revenue Service, Notice 2022-50, Request for Comments on Elective Payment of Applicable Credits and Transfer of Certain Credits Internal Revenue Service, Notice 2022-48, Request for Comments on Incentive Provisions for Improving the Energy Efficiency of Residential and Commercial Buildings