Tax Benefits for Military Housing
Official: Low Income Housing for Defense Communities Act
This bill offers tax benefits to encourage the development of affordable rental housing for military members and their families, making it easier for them to find suitable homes near their bases.
Graduate Opportunity and Affordable Loans Act This bill limits federal student loan borrowing for graduate and professional students. Specifically, the bill terminates the ability of a graduate or professional student to receive a Direct PLUS Loan. Institutions of higher education (IHEs) must notify their prospective and enrolled graduate and professional students that Direct PLUS Loans terminate on June 30, 2025. Additionally, the bill establishes the aggregate loan limit for Direct Unsubsidized Loans as $65,000 for a graduate student (in addition to the amount borrowed for undergraduate education) and $130,000 for a professional student (in addition to the amount borrowed for undergraduate education). The bill allows IHEs to set lower loan limits.
1. This bill provides tax incentives for rental housing aimed at military members. 2. It excludes military housing allowances from income calculations for tax credits. 3. Buildings near large military bases receive increased low-income housing credits. 4. The bill does not require these buildings to be occupied only by military members. 5. These changes aim to boost affordable housing options for service members.
Military members and their families looking for rental housing near military installations.