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  THE LOW INCOME & URBAN HOUSING BLOG  

Tuesday, August 7, 2012

New Legislation Addresses Need to Increase Housing for Moderate-Income Seniors

U.S. House of Representatives
The Affordable Housing for Moderate-Income Seniors Act, introduced by Joe Baca, U.S. Representative for California's 43rd congressional district, addresses a growing need to provide more affordable housing for moderate-income senior citizens. The population is growing older and the number of Americans 62 and over has doubled since 1990. The lack of affordable housing options is not only a concern for low-income families but also for moderate-income seniors.

Subsidized housing benefits typically apply to low-income residents. The new legislation amends the Internal Revenue Code to include tax deductions to developers of moderate-income housing, much as the code currently allows for tax deductions to developers of low-income housing. The legislation marks the first time in more than 40 years that an amendment of this type has been recommended for moderate-income families.

To be eligible for housing under The Affordable Housing for Moderate-Income Seniors Act, residents must be 62 years of age or older. Their income must not exceed 140% of their state’s designated income eligibility limit for subsidized housing benefits.

Middle-income seniors often struggle financially, just as low-income families. However, there are currently no programs to address their housing needs, and their incomes are above the limits to receive subsidized housing. Congressman Baca believes the new legislation will help this group by increasing housing options for these senior citizens.

For more information,visit www.baca.house.gov/


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