The Housing for Homeless Students Act of 2014 was introduced July 3, 2014. The bill would amend the Internal Revenue Code (IRC) of 1986 to allow homeless youth and veterans who are full-time students to qualify for the low-income housing tax credit (LIHTC).
Currently, the LIHTC program does not allow tenants to be full-time students. This is in place to prevent college students with temporarily low incomes from taking advantage of a program intended for low-income individuals or families.
The act would
Exempt homeless youth and veterans from this rule by adding that the expanded eligibility will include homeless individuals covered by the definition of homeless children and youth in the McKinney-Vento Homeless Assistance Act; and
Extend eligibility to veterans who have been homeless to ensure that they have access to affordable housing while seeking an education.