To require the Secretary of the Treasury to modify regulations to provide that certain Federal subsidies shall not be considered a grant made with respect to a building or its operation for purposes of the low-income housing tax credit.
Latest action · Jul 31, 2007 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 31, 2007
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Directs the Secretary of the Treasury to modify certain Treasury Regulations to provide that none of the following shall be considered a grant made with respect to a building or its operation for purposes of the required reduction of eligible basis by grants received under the low-income housing tax credit: (1) specified rental assistance under the Housing Act of 1949, Housing Act of 1959, and the Cranston-Gonzalez National Affordable Housing Act; (2) loan guarantees for multifamily rental housing in rural area under the Housing Act of 1949; (3) periodic interest reduction payments on behalf of owner of rental or cooperative housing project for low-income families under the National Housing Act; (4) modernization, operating, and rental assistance under the Native American Housing Assistance and Self-Determination Act of 1996; (5) certain assistance under the Stewart B. McKinney Homeless Assistance Act for grantees following a current housing affordability strategy or an approved comprehensive homeless assistance plan; (6) tenant-based rental assistance under the Cranston-Gonzalez National Affordable Housing Act; (7) assistance under the AIDS Housing Opportunity Act; (8) per diem payments for furnishing services to homeless veterans; (9) rent supplements under the Housing and Urban Development Act of 1965; (10) rural housing voucher program assistance under the Housing Act of 1949; and (11) any other ongoing payment similar to any of these payments and designed to reduce cash flow needs from rent to enable the property to be rented to low-income tenants.
Cosponsors 2
Members who signed on, in the order they did. All signed on Sep 17, 2007.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-OR | Earl Blumenauer | Sep 17, 2007 | |
| D-CA | Fortney Pete Stark | Sep 17, 2007 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Ways and Means Committee | Referred Jul 31, 2007 |
Actions 2
Everything that happened, newest first.
- Jul 31, 2007Introduced in House
- Jul 31, 2007Referred to the House Committee on Ways and Means.
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To require the Secretary of the Treasury to modify regulations to provide that certain Federal subsidies shall not be considered a grant made with respect to a building or its operation for purposes of the low-income housing tax credit.
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
- Administrative procedure
- Affordable housing
- AIDS (Disease)
- Apartment houses
- Armed Forces and National Security
- Department of the Treasury
- Economics and Public Finance
- Federal aid to housing
- Federally-guaranteed loans
- Government Operations and Politics
- Health
- Homeless
- Housing and Community Development
- Housing finance
- Housing subsidies
- Income tax
- Indian housing
- Law
- Low-income housing
- Minorities
- Mortgage interest rates
- Mortgages
- Native Americans
- Rental housing
- Rural housing
- Social Welfare
- Tax credits
- Taxation
- Veterans' benefits
Text 1
Each version as it was printed, newest first.
- Jul 31, 2007Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
