Provides for the designation of nine additional empowerment zones, an extension of enterprise zone treatment through calendar year 2009, increased expensing in such zones, and other modifications to the treatment of zone investments.
Establishes a new markets tax credit for equity investments in qualified community development entities.
Modifies the low-income housing credit and the criteria for allocating credits among projects.
Provides for an accelerated phase-in of specified increases in the volume cap on private activity bonds.
America's Private Investment Companies Act - Authorizes the Secretary of Housing and Urban Development to license community development entities as America's Private Investment Companies (for-profit investment companies formed to make equity and credit investments for large-scale business development in low-income communities).
Amends the Departments of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1997 to direct the Secretary of Housing and Urban Development to transfer ownership of qualified HUD-held properties (substandard or unoccupied multifamily or unoccupied single family properties) to local governments and community development corporations under specified conditions.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1311)
Referred to the Committee on Ways and Means, and in addition to the Committees on Banking and Financial Services, Small Business, and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Banking and Financial Services, Small Business, and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Banking and Financial Services, Small Business, and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Banking and Financial Services, Small Business, and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committees on Banking and Financial Services, Small Business, and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
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Mr. English moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H6797-6841)
DEBATE - The House proceeded with one hour of debate on H.R. 4923.
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 394 - 27 (Roll no. 430).(text: CR H6797-6816)
Roll Call #430 (House)On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 394 - 27 (Roll no. 430). (text: CR H6797-6816)
Roll Call #430 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate.
Read the first time. Placed on Senate Legislative Calendar under Read the First Time.
Referred to the Subcommittee on Housing and Community Opportunity.
Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 780.