INCREASE Housing Affordability Act

Hozzl · 2026-03-06T09:06:55Z

Explore the details of House Bill 537 INCREASE Housing Affordability Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

3/6/2026, 9:06 AM

Summary of Bill HR 537

Bill 119 HR 537 aims to amend the Internal Revenue Code of 1986 in order to provide tax credits for the conversion of commercial buildings into residential units. The bill also seeks to offer support and technical assistance to State and local housing agencies to help them identify and promote housing conversion opportunities for underutilized commercial buildings.

The main goal of this legislation is to address the shortage of affordable housing in many communities by repurposing existing commercial spaces into residential units. By providing tax credits and support to housing agencies, the bill aims to incentivize and facilitate the conversion of underutilized commercial buildings, ultimately increasing the availability of housing options for individuals and families.

In addition to promoting the conversion of commercial buildings into residential units, the bill also includes provisions for other purposes related to housing development and affordability. Overall, Bill 119 HR 537 seeks to address the pressing issue of affordable housing by encouraging the adaptive reuse of commercial spaces and providing support to housing agencies in their efforts to expand housing options for residents.

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Current Status of Bill HR 537

Bill HR 537 is currently in the status of Bill Introduced since January 16, 2025. Bill HR 537 was introduced during Congress 119 and was introduced to the House on January 16, 2025. Bill HR 537's most recent activity was ASSUMING FIRST SPONSORHSIP - Mr. Magaziner asked unanimous consent that he may be hereafter be considered as the first sponsor of H.R. 537, a bill originally introduced by Representative Sherrill, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection. as of March 5, 2026

Bipartisan Support of Bill HR 537

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 537

Primary Policy Focus

Taxation

Potential Impact Areas

- Building construction

- Housing supply and affordability

- Income tax credits

- Urban and suburban affairs and development

Alternate Title(s) of Bill HR 537

INCREASE Housing Affordability Act

Incentivizing New Conversions to Residential Entities to Accelerate Supply and Expand Housing Affordability Act

To amend the Internal Revenue Code of 1986 to provide tax credits for the conversion of commercial buildings to residential units, to provide support and technical assistance to State and local housing agencies to identify and advance housing conversion opportunities for underutilized commercial buildings, and for other purposes.

Comments

Allen Knox

992

1 year ago

I think this bill is a step in the right direction. It could really help revitalize communities and provide more housing options. How do you think this will impact our neighborhoods in the long run?