LIFELINE Act

LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence Act or the LIFELINE Act

This bill permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by December 31, 2024, and having maturities of 30 or more years.

The LIFELINE Act, also known as Bill 117 hr 7078, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to expand and improve the Lifeline program, which provides discounted phone and internet services to low-income individuals and families.

The LIFELINE Act aims to make it easier for eligible individuals to enroll in the Lifeline program by streamlining the application process and increasing awareness of the program. Additionally, the bill seeks to modernize the program by allowing participants to use their Lifeline benefits for broadband internet services, in addition to traditional phone services.

Furthermore, the LIFELINE Act includes provisions to increase accountability and transparency within the Lifeline program, ensuring that funds are being used efficiently and effectively. The bill also includes measures to prevent fraud and abuse within the program, such as implementing stricter eligibility requirements and conducting regular audits. Overall, the LIFELINE Act is designed to help bridge the digital divide by providing low-income individuals with access to essential communication services. By expanding and improving the Lifeline program, this legislation aims to ensure that all Americans have the opportunity to stay connected and participate in the digital economy.