To amend the Internal Revenue Code of 1986 to provide a 3-year extension of the low-income housing credit, and for other purposes.

Amends the Internal Revenue Code to extend the low-income housing credit for three years from applicable termination dates.

Allows housing credit agencies to collect a reasonable fees for compliance monitoring.

Requires such agencies to take into account project developer fees when determining the financial feasibility of a housing project and the credit to be allocated to such project.