The INCREASE Housing Affordability Act establishes a new tax credit to incentivize the conversion of underutilized office buildings into residential or mixed-use rental properties. To further support this effort, the bill creates an advisory board to provide technical assistance and guidance to state and local agencies on navigating the regulatory and logistical challenges of these conversions. By offering financial incentives and expert support, the legislation aims to accelerate housing supply and expand affordability across the country.
