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Housing Bond and Credit Modernization and Fairness Act of 2001
1/16/2023, 3:03 PM
Congressional Summary of S 677
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.
Read the Full Bill
Current Status of Bill S 677
Bill S 677 is currently in the status of Bill Introduced since April 2, 2001. Bill S 677 was introduced during Congress 107 and was introduced to the Senate on April 2, 2001. Bill S 677's most recent activity was Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S3281) as of April 2, 2001
Bipartisan Support of Bill S 677
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
78Democrat Cosponsors
42Republican Cosponsors
36Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 677
Primary Policy Focus
TaxationPotential 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 S 677
Housing Bond and Credit Modernization and Fairness Act of 2001
A bill to amend the Internal Revenue Code of 1986 to repeal the required use of certain principal repayments on mortgage subsidy bond financing 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
Comments
Sponsors and Cosponsors of S 677
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