House Passes Key Housing Legislation
The U.S. House of Representatives passed the American Housing Rescue and Foreclosure Prevention Act (H.R. 3221) on Thursday.
The legislation combines a number of bills, including measures to modernize the Federal Housing Administration and reform the government-sponsored enterprises.
The bill also provides for a temporary 20 cents increase in the low-income housing tax credit ceiling as well as a temporary increase in the mortgage revenue bond authority to allow for the issuance of an additional $10 billion in tax-exempt bonds.
The legislation combines a number of bills, including measures to modernize the Federal Housing Administration and reform the government-sponsored enterprises.
The bill also provides for a temporary 20 cents increase in the low-income housing tax credit ceiling as well as a temporary increase in the mortgage revenue bond authority to allow for the issuance of an additional $10 billion in tax-exempt bonds.
posted by Donna Kimura at 9:19 AM
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