LIFELINE Act

12/29/2022, 4:48 PM

LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence Act or the LIFELINE Act

This bill permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by December 31, 2024, and having maturities of 30 or more years.

Congress
117
Number
S - 4181
Introduced on
2022-05-11
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

5/11/2022
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence Act or the LIFELINE Act

This bill permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by December 31, 2024, and having maturities of 30 or more years.

Alternative Names
Official Title as IntroducedA bill to amend title VI of the Social Security Act to allow coronavirus State and local fiscal recovery funds to be used for low-income housing credit projects.
Policy Areas
Housing and Community Development
Potential Impact
Cardiovascular and respiratory health•
Congressional oversight•
Emergency medical services and trauma care•
Government lending and loan guarantees•
Housing and community development funding•
Housing supply and affordability•
Income tax credits•
Infectious and parasitic diseases•
Low- and moderate-income housing•
Residential rehabilitation and home repair•
State and local finance•
State and local government operations

Comments

Related

Bill Update Alert:  LIFELINE Act

Recent Activity

Latest Summary6/8/2022

LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence Act or the LIFELINE Act

This bill permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualifie...

Latest Action5/11/2022
Read twice and referred to the Committee on Finance.