Congressmen Reintroduce Housing Bond Legislation

Monday, January 13, 2003 - 1:45am

Reps. Amo Houghton (R-N.Y.) and Richard Neal (D-Mass.) last week reintroduced the Housing Bond and Credit Modernization and Fairness Act, H.R. 284. The bill would repeal the mortgage revenue bond (MRB) 10-Year Rule, reform the MRB purchase price limit, and make low-income housing tax credit (LIHTC) development possible in very low-income, especially rural, areas. The bill is identical to H.R. 951, which Houghton and Neal introduced in the 107th Congress. Eighty-two percent of the members of Congress cosponsored that bill. Sens. Orrin Hatch (R-Utah) and John Breaux (D-La.) are expected to reintroduce an identical bill in the Senate shortly. To view the identical text from H.R. 951, introduced last session, click here.