H.R. 7216

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7216 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7216 To amend the Internal Revenue Code of 1986 to establish the housing affordability credit. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 22, 2026 Mr. Kean (for himself and Mr. Mackenzie) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish the housing affordability credit. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Make American Housing Affordable (MAHA) Act of 2026''. SEC. 2. HOUSING AFFORDABILITY CREDIT. (a) In General.--Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 36B the following new section: ``SEC. 36C. HOUSING AFFORDABILITY CREDIT. ``(a) Allowance of Credit.--In the case of an eligible individual, there shall be allowed $5,000 (twice such amount in the case of a joint return) as a credit against the tax imposed by this subtitle. ``(b) Eligible Individual.--For purposes of this section, the term `eligible individual' means, with respect to a taxable year, an individual-- ``(1) who purchases a principal residence (as such term is used in section 121) during such taxable year, and ``(2) with respect to whom no credit has been allowed during the 4 taxable years preceding such taxable year. ``(c) Phaseout.-- ``(1) In general.--The amount of the credit allowed under subsection (a) shall be reduced by the amount which bears the same ratio to $50,000 (twice such amount in the case of a joint return) as the excess of-- ``(A) the modified adjusted gross income of the individual, over ``(B) $250,000 (twice such amount in the case of a joint return). ``(2) Modified adjusted gross income.--For purposes of this subsection, the term `modified adjusted gross income' means the adjusted gross income of the taxpayer for the taxable year increased by any amount excluded from gross income under section 911, 931, or 933.''. (b) Conforming Amendments.-- (1) Section 6211(b)(4)(A) of the Internal Revenue Code of 1986 is amended by inserting ``, 36C'' after ``36B''. (2) Section 1324(b)(2) of title 31, United States Code, is amended by inserting ``, 36C'' after ``, 36B''. (3) The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 36B the following new item: ``Sec. 36C. Housing affordability credit.''. (c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. <all>