Federal housing credit expansion could increase affordable rental units in Illinois: report – Capitol News IL

It’s a lesser publicized inclusion in the One Big Beautiful Bill Act that cleared Congress with only Republican support, a bill more widely publicized for its cuts to Medicaid, food assistance and individual income taxes. According to the accounting firm Novogradac, increasing the tax credit and lowering bond financing requirements for housing projects could allow 34,700 new affordable housing units to be built in Illinois and generate about $2 billion in tax revenue for the state and local governments.