Senate Bill Would Exempt Homeless Youth and Veterans from the Student Rule

Senator Al Franken (D-MN) and Senate Finance Committee member Rob Portman (R-OH) recently introduced the Housing for Homeless Students Act, S. 1412, which would add a new exemption to the housing credit student rule to allow full-time students to qualify to rent an LIHTC apartment if they were a youth experiencing homelessness as defined in the McKinney-Vento Homeless Assistance Act at any point within the seven years prior to moving into their LIHTC unit, or if they are a veteran and were homeless at any point within the five years prior to moving into their LIHTC unit. 

Under current law, full-time students are ineligible to live in an LIHTC unit unless they meet certain established exemptions, including being a single parent, receiving assistance under Title IV of the Social Security Act, or being enrolled in certain job training programs.