109th CONGRESS
2d Session

S. 3941

To amend the Internal Revenue Code of 1986 to fully allow students to live in units eligible for the low-income housing credit, and for other purposes.

IN THE SENATE OF THE UNITED STATES

September 26, 2006

Mr. SANTORUM introduced the following bill; which was read twice and referred to the Committee on Finance

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A BILL

To amend the Internal Revenue Code of 1986 to fully allow students to live in units eligible for the low-income housing credit, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. CLARIFICATION OF STUDENT HOUSING ELIGIBLE FOR LOW-INCOME HOUSING CREDIT.

(a) In General- Section 42(i)(3)(D) of the Internal Revenue Code of 1986 (relating to certain students not to disqualify unit) is amended by striking all after clause (i) and inserting the following:

`(ii) entirely by full-time students if such students are--

`(I) single parents and their children,

`(II) married and file a joint return, or

`(III) adult students fulfilling the requirements for a secondary school education or secondary education equivalency diploma.

For purposes of determining whether a unit is occupied by a full-time student, an individual under the age of 19 years who attends kindergarten through grade 12 shall not be taken into account.'.

(b) Effective Date- The amendment made by this section shall take effect on the date of the enactment of this Act.

END