Housing Bond and Credit Modernization and Fairness Act of 2001

Hozzl · 2023-01-17T00:33:03Z

Explore the details of House Bill 951 Housing Bond and Credit Modernization and Fairness Act of 2001 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

1/17/2023, 12:33 AM

Congressional Summary of HR 951

Housing Bond and Credit Modernization and Fairness Act of 2001 - Amends the Internal Revenue Code to: (1) repeal the required use of certain principal repayments on mortgage subsidy bond financings to redeem bonds; (2) modify the purchase price limitation under mortgage subsidy bond rules based on median family income; and (3) define the term "area median gross income" for low-income housing credit projects.

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Current Status of Bill HR 951

Bill HR 951 is currently in the status of Bill Introduced since March 8, 2001. Bill HR 951 was introduced during Congress 107 and was introduced to the House on March 8, 2001. Bill HR 951's most recent activity was Referred to the House Committee on Ways and Means. as of March 8, 2001

Bipartisan Support of Bill HR 951

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

361

Democrat Cosponsors

187

Republican Cosponsors

172

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 951

Primary Policy Focus

Taxation

Potential Impact Areas

- Business income tax

- Commerce

- Economics and Public Finance

- Finance and Financial Sector

- Housing and Community Development

- Housing subsidies

- Income

- Income tax

- Low-income housing

- Mortgage interest rates

- Mortgage loans

- Rent

- Social Welfare

- Tax credits

- Tax-exempt securities

Alternate Title(s) of Bill HR 951

Housing Bond and Credit Modernization and Fairness Act of 2001

To amend the Internal Revenue Code of 1986 to repeal the required use of certain principal repayments on mortgage subsidy bond financings to redeem bonds, to modify the purchase price limitation under mortgage subsidy bond rules based on median family income, and for other purposes.

Housing Bond and Credit Modernization and Fairness Act of 2001