26 U.S. Code § 1400P - Housing tax benefits
(a) Exclusion of employer provided housing for individual affected by Hurricane Katrina
(1) In general
Gross income of a qualified employee shall not include the value of any lodging furnished in-kind to such employee (and such employee’s spouse or any of such employee’s dependents) by or on behalf of a qualified employer for any month during the taxable year.
The amount which may be excluded under paragraph (1) for any month for which lodging is furnished during the taxable year shall not exceed $600.
(b) Employer credit for housing employees affected by Hurricane Katrina
For purposes of section 38, in the case of a qualified employer, the Hurricane Katrina housing credit for any month during the taxable year is an amount equal to 30 percent of any amount which is excludable from the gross income of a qualified employee of such employer under subsection (a) and not otherwise excludable under section 119.
(c) Qualified employee
For purposes of this section, the term “qualified employee” means, with respect to any month, an individual—
(1) who had a principal residence (as defined in section 121) in the Gulf Opportunity Zone on August 28, 2005, and
(d) Qualified employer
For purposes of this section, the term “qualified employer” means any employer with a trade or business located in the Gulf Opportunity Zone.
(e) Certain rules to apply