H.R. 537, also known as the “INCREASE Housing Affordability Act” or the “Incentivizing New Conversions to Residential Entities to Accelerate Supply and Expand Housing Affordability Act,” aims to amend the Internal Revenue Code to offer tax credits for converting commercial buildings into...
Simple Explanation
The INCREASE Housing Affordability Act wants to make it easier and cheaper to turn empty office buildings into homes by giving special money savings or "tax credits." This means that if someone spends money to change an old shop or office into a place people can live in, the government will help pay for some of those costs, especially if the homes are affordable and the workers are treated fairly.