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H.R. 480 (114th): Housing America’s Workforce Act of 2015

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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 22, 2015.


Housing America's Workforce Act of 2015

Amends the Internal Revenue Code to allow employers a business-related tax credit for up to 50% (100% for small business employers) of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or 6% of an employee's home purchase price, or up to $5,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance.

Authorizes the Secretary of Housing and Urban Development to award grants in FY2015-FY2017, on a competitive basis, to nonprofit housing organizations or local governments for certain costs, including operating costs and technical assistance costs, of employer-assisted housing programs. Requires the Secretary to establish a national clearinghouse, including a website, to provide information about employer-assisted housing programs to federal, state, and local governments and other interested entities.

Directs the Comptroller General to conduct a study of employer-assisted housing programs and provide the Secretary with an interim report by January 1, 2018, and final report by December 31, 2019.