Section 1. Short Title
This Act may be cited as the "Employer Housing Subsidy Tax Deduction Act."
Section 2. Purpose
The purpose of this Act is to encourage employers to assist their employees with housing costs by providing a federal tax deduction for employers who subsidize housing for their employees, thereby promoting workforce stability and economic growth.
Section 3. Definitions
For the purposes of this Act:
(a) "Employer" means any business entity, including corporations, partnerships, and sole
proprietorships, that employs individuals within the United States.
(b) "Employee" means any individual employed by an employer on a full-time or part-time basis.
(c) "Housing subsidy" means financial assistance provided by an employer to an employee for
the purpose of offsetting housing costs, including rent, mortgage payments, or other housingrelated
expenses.
(d) "Tax deduction" means a reduction in the amount of taxable income for the employer.
Section 4. Eligibility
(a) Employers are eligible for the tax deduction if they provide a housing subsidy to their
employees.
(b) The housing subsidy must be provided directly to the employee or to a housing provider on behalf of the employee.
(c) The housing subsidy policy must be applied uniformly to all employees, without discrimination based on position, salary level, or any other non-job-related factors.
Section 5. Tax Deduction Amount
(a) The tax deduction shall be equal to the total housing subsidy provided by the employer to its employees during the taxable year.
(b) There shall be no cap on the total amount of the tax deduction that an employer can claim.
Section 6. Claiming the Tax Deduction
(a) Employers must claim the tax deduction on their federal tax return in the manner prescribed by the Internal Revenue Service (IRS).
(b) The tax deduction shall be claimed as a business expense under the appropriate section of the tax code.
Section 7. Reporting and Documentation
(a) Employers claiming the tax deduction must maintain records documenting the housing subsidies provided to employees, including the amount and recipient of the subsidy.
(b) The IRS may require additional documentation or reporting as deemed necessary to verify eligibility for the tax deduction.
Section 8. Effective Date
This Act shall become effective on [specific date], and shall apply to taxable years beginning on or after that date.