Affordable Housing Bond Enhancement Act

This bill changes federal tax rules for mortgage revenue bonds and mortgage credit certificates, which states and local agencies use to help people buy and keep homes. It would raise the limit on qualified home improvement loans from $15,000 to $75,000 with inflation adjustments, allow these bonds to fund certain refinancing, and shorten the period in which a recapture tax can apply when a home is sold from 9 years to 5 years. It would let unused bond authority be carried forward for 3 years and transferred or redesignated for housing purposes within a state. It also requires the Treasury to report each year to Congress on how states use their bond authority, changes how mortgage credit certificate rates are set, and shortens a public notice period from 90 days to 30 days.

Full text and official record on Congress.gov

Sponsors

• Catherine Cortez Masto Democrat sponsor
• 1 cosponsors