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TheWeekInCongress.com (TM) Week Ending April 27, 2006
H.R.1675 To suspend the requirements of the Department of Housing and Urban Development regarding electronic filing of previous participation certificates and regarding filing of such certificates with respect to certain low-income housing investors.
Participant investors in the HUD low income housing program have been required to file a record of previous participation in the program electronically for inclusion to HUD records. This bill suspends those requirements with respect to LLCs (Limited Liability Corporations) investors who own or expect to own an interest in entities which are allowed or are expected to be allowed low-income housing credits under the IRS Code.
Although the investors still must file they would do so on paper until the Secretary of HUD revises the regulations to eliminate the “unnecessary burdens and disincentives’ of the filing for the investors. The revised regulations would be overseen by the House.
Sponsor: Rep. Melissa L. Bean (D-IL-8th) Vote: Passed House by voice vote April 24, 2007. Cost to the taxpayers: No discernible cost. Earmark Certification: Not applicable to this bill ## All Rights Reserved. © 2007 TheWeekInCongress.com(TM) No reproduction, language translation or distribution without written permission from TheWeekInCongress.com.(TM)
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