H.R.4687 - Low Income Housing Tax Credit Exchange Expansion and Job Creation Act of 2010111th Congress (2009-2010)
|Sponsor:||Rep. Sanchez, Linda T. [D-CA-39] (Introduced 02/24/2010)|
|Committees:||House - Financial Services; Ways and Means|
|Latest Action:||02/24/2010 Referred to House Ways and Means (All Actions)|
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Summary: H.R.4687 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (02/24/2010)
Low Income Housing Tax Credit Exchange Expansion and Job Creation Act of 2010 - Directs the Secretary of the Treasury to make grants to: (1) state housing credit agencies in lieu of low-income credit allocations in 2010; and (2) states for bond-subsidized housing projects.
Requires state housing credit agencies and states to use grants to make subawards to finance the construction or acquisition and rehabilitation of qualified low-income buildings. Requires the return of grant funds not used to make such subawards before January 1, 2012.