The Low Income Housing Tax Credit (LIHTC) increases the development of affordable housing by cutting developers’ tax liability. However, the “student rule” excludes full-time college students, including veterans, from living in LIHTC-funded properties, negatively affecting those who currently are or have recently experienced homelessness. The Housing for Homeless Students Act (HHSA) provides an exception for these students to ensure all young people have access to both education and affordable housing to achieve their fullest potential and stop the cycle of homelessness.
U.S. Representatives Danny Davis (D-IL) and Brad Wenstrup (R-OH) introduced the bipartisan Housing for Homeless Students Act (H.R.7278) on February 7, 2024. This no-cost, bipartisan legislation will allow full-time college students who are experiencing or have experienced homelessness, including veterans, to qualify for affordable housing built with the LIHTC.
Education has a powerful role to play in preventing and ending youth and young adult homelessness, and in preventing chronic homelessness in older adults. By fixing the “student rule,” the many college students who experience homelessness each year will no longer have to choose between stable housing or obtaining a full-time education. Passing the Housing for Homeless Students Act is critical to preventing and ending youth and young adult homelessness, to breaking cycles of poverty and homelessness, and to supporting veterans and survivors of trafficking.