Pipeline · Bill → Law
Step 1
Introduced
Jun 6, 2023
Step 2
Referred
Jun 6, 2023
Banking, Housing, and Urban Affairs · Finance
Step 3
Committee
Apr 16, 2024
Step 4
Senate
Step 5
House floor
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary
This bill modifies the Mortgage Revenue Bond (MRB) and the Mortgage Credit Certificate (MCC) programs of state housing finance agencies to expand the supply of affordable homes and homeownership for low- and moderate-income homebuyers. The bill requires the Internal Revenue Service to annually report to the congressional banking and tax committees on the use by states of their private activity bond authority for housing investment. It also increases the MRB home improvement loan limit from $15,000 to $50,000. The bill permits states to redesignate their carryforward authority and use it for housing investment and permits MRBs to be used to refinance home loans for borrowers who have income...
Timeline · 3 actions
Apr 16, 2024
Committee on Banking, Housing, and Urban Affairs Subcommittee on Housing, Transportation, and Community Development. Hearings held.
Jun 6, 2023
Introduced in Senate
Jun 6, 2023
Read twice and referred to the Committee on Finance.