Visitable Inclusive Tax credits for Accessible Living (VITAL) Act

year 2027, the per capita amount is the product of-- ``(I) 1.25, and ``(II) the dollar amount under clause (i) increased by an amount equal to-- ``(aa) such dollar amount, multiplied by ``(bb) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting `calendar year 2024' for `calendar year 2016' in subparagraph (A)(ii) thereof. If the amount determined after application of the preceding sentence is not a multiple of $5,000, such amount shall be rounded to the next lowest multiple of $5,000. ``(iii) Calendar years after 2027.--In the case of any calendar year after 2027, the per capita amount is the dollar amount determined under clause (ii) increased by an amount equal to-- ``(I) such dollar amount, multiplied by ``(II) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting `calendar year 2026' for `calendar year 2016' in subparagraph (A)(ii) thereof. Any amount increased under the preceding sentence which is not a multiple of 5 cents shall be rounded to the next lowest multiple of 5 cents. ``(I) Minimum amount.--For purposes of subparagraph (C)(ii)(II), the minimum amount shall be determined as follows: ``(i) Calendar year 2026.--For calendar year, 2026, the minimum amount is $4,876,000. ``(ii) Calendar year 2027.--For calendar year 2027, the minimum amount is the product of-- ``(I) 1.25, and ``(II) the dollar amount under clause (i) increased by an amount equal to-- ``(aa) such dollar amount, multiplied by ``(bb) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting `calendar year 2024' for `calendar year 2016' in subparagraph (A)(ii) thereof. If the amount determined after application of the preceding sentence is not a multiple of 5 cents, such amount shall be rounded to the next lowest multiple of 5 cents. ``(iii) Calendar years after 2027.--In the case of any calendar year after 2027, the minimum amount is the dollar amount determined under clause (ii) increased by an amount equal to-- ``(I) such dollar amount, multiplied by ``(II) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting `calendar year 2026' for `calendar year 2016' in subparagraph (A)(ii) thereof. Any amount increased under the preceding sentence which is not a multiple of $5,000 shall be rounded to the next lowest multiple of $5,000.''. (c) Effective Date.--The amendments made by this section shall apply to calendar years beginning after December 31, 2025. SEC. 5. INCREASE IN CREDIT FOR PROJECTS DESIGNATED TO SERVE HOUSEHOLDS WITH PEOPLE WITH DISABILITIES. (a) In General.--Paragraph (5) of section 42(d) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: ``(C) Increase in credit for projects designated to serve households with people with disabilities.-- ``(i) In general.--In the case of any building-- ``(I) 50 percent or more of the low-income units in the building are units designated by the taxpayer to meet the applicable design standards for occupancy by persons with mental, physical, sensory, or developmental disabilities, ``(II) which is located in a census block group designated by the Environmental Protection Agency as being-- ``(aa) above average or better in terms of walkability, or ``(bb) adjacent to 2 or more census tracts described in item (aa), and ``(III) which is designated by the housing credit agency as requiring the increase in credit under this subparagraph in order for such building to be financially feasible as part of a qualified low-income housing project, subparagraph (B) shall not apply to the portion of such building which is comprised of such units, and the eligible basis of such portion of the building shall be 150 percent of such basis determined without regard to this subparagraph. ``(ii) Design standards.--For purposes of clause (i)(I), the term `applicable design standards' means the principles and standards of adaptable design as detailed in the Uniform Federal Accessibility Standards, or any successor standard designated by the Secretary.''. (b) Effective Date.--The amendment made by this section shall apply to buildings which receive allocations of housing credit dollar amount or, in the case of projects financed by tax-exempt obligations as described in section 42(h)(4) of the Internal Revenue Code of 1986, which are first taken into account under section 146 of such Code, after December 31, 2026. SEC. 6. REQUIREMENT FOR PROJECTS DESIGNATED TO SERVE HOUSEHOLDS WITH PEOPLE WITH DISABILITIES. (a) In General.--Paragraph (1) of section 42(m) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: ``(E) Projects designated to serve households with people with disabilities.-- ``(i) In general.--The qualified allocation plan shall ensure that, with respect to any 3- year period, the applicable percentage is not less than 40 percent. ``(ii) Applicable percentage.--For purposes of this subparagraph, the applicable percentage is the ratio (expressed as a percentage) of-- ``(I) the number of low-income units in all projects receiving an allocation of the housing credit dollar amount during such period which meet the requirements of subclause (I) of subsection (d)(5)(C)(i), to ``(II) the aggregate number of all low-income units in all projects receiving an allocation of the housing credit dollar amount during such period. ``(iii) Special rule.--For purposes of clause (ii)(I), any low-income unit which is part of a project which meets the requirements of both subclause (I) and subclause (II) of subsection (d)(5)(C)(i) shall be counted twice.''. (b) Effective Date.--The amendments made by this section shall apply to allocations of housing credit dollar amounts made under qualified allocation plans (as defined in section 42(m)(1)(B) of the Internal Revenue Code of 1986) adopted after December 31, 2026. <all>