A bill to amend the Internal Revenue Code of 1986 to provide that the value of certain ground leases will not be taken into account in determining acquisition cost for purposes of the mortgage revenue bond rules, and for other purposes.

Amends Internal Revenue Code provisions relating to mortgage revenue bonds to: (1) exclude the value of certain ground leases from acquisition cost determinations with respect to mortgage revenue bond rules; and (2) revise the definition of "qualified census tract" to account for government-owned lands.