Housing Bond and Credit Modernization and Fairness Act of 2001
Last action on Mar 8, 2001Referred to the House Committee on Ways and Means.
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Summary
Housing Bond and Credit Modernization and Fairness Act of 2001 - Amends the Internal Revenue Code to: (1) repeal the required use of certain principal repayments on mortgage subsidy bond financings to redeem bonds; (2) modify the purchase price limitation under mortgage subsidy bond rules based on median family income; and (3) define the term "area median gross income" for low-income housing credit projects.
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