Summary: H.R.2995 — 111th Congress (2009-2010)All Information (Except Text)

There is one summary for H.R.2995. Bill summaries are authored by CRS.

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Introduced in House (06/23/2009)

Disaster State Housing Recovery Act of 2009 - Amends the American Recovery and Reinvestment Tax Act of 2009 with respect to grants for 2009 to a state housing credit agency for low-income housing projects in lieu of low-income housing credit allocations.

Revises the formula for determining a state's low-income housing grant election amount to reflect any increase in the state housing credit ceiling for 2009 attributable to any such ceiling returned to the state in 2009 by reason of the additional low-income housing credit dollar amounts allocated by the state housing credit agency to buildings located in the Gulf Opportunity (GO) Zone (including the Hurricanes Katrina and Ike disaster areas in Alabama, Louisiana, or Mississippi).

Requires application of the additional low-income housing credit amount for the GO Zone in the 2009 grant election formula without regard to certain special rules for small timber producers.