H. R. 10195 proposes changes to the Internal Revenue Code of 1986 to disallow the low-income housing tax credit for any entity that has diversity, equity, and inclusion initiatives. The bill specifies that even partnerships and S corporations with such initiatives will be...
Simple Explanation
In this bill, if a company or group is working to support different kinds of people or make sure everyone is treated fairly (like by having special programs or initiatives), they won't be allowed to get a special tax break for helping build homes for people with less money. But, this doesn’t affect regular people unless they’re part of such a company or group.