Washington, D.C.– The One Big Beautiful Bill drives economic development by offering tax credits for investors to develop projects and build housing in low-income communities in Idaho and around the country.
Low income housing tax credits:
- Permanently expands the low-income housing tax credit, encouraging the development and rehabilitation of affordable rental housing.
New markets tax credits:
- Permanently expands credits that attract private capital to invest and build in low-income communities, stimulating economic growth and creating jobs.
Opportunity Zones:
- Makes permanent the expanded Opportunity Zone program, especially focusing on spurring investment in rural areas.
- Enables governors to expand the map of targeted communities and creates new reporting and transparency requirements to evaluate the program’s success.
What they are saying:
“In the years since 2017, [Opportunity Zones have] driven more private investment to more low-income communities with a larger-scale impact than any federal initiative of its kind over such a short period. The reconciliation bill not only makes Opportunity Zones permanent, but also stronger, simpler, and more transparent.” – Economic Innovation Group
“The Housing Credit provisions in the reconciliation bill will finance well over a million more affordable homes in the U.S. – a profound impact at a time of staggering need. We applaud this effort to take an unprecedented step toward resolving a crisis that continues to affect millions of Americans.” – Tax Credit Coalition
“Achieving permanence for the NMTC provides certainty to thousands of businesses and investors and delivers more jobs, business opportunities and capital to high-impact investments prioritized by local communities. Our partnerships with local businesses and community organizations across the country can now continue to help Americans most in need to prosper.” – New Markets Tax Coalition
Click HERE to learn more about the Finance Committee provisions in the One Big Beautiful Bill Act.