To amend the Internal Revenue Code of 1986 to provide an exemption from the recapture provisions of the low-income housing credit for certain recipients of Federal multi-family housing loans.

Amends the Internal Revenue Code to provide an exemption from the recapture provisions of the low-income housing credit when the disposition of a building is made by a taxpayer who received a federal multi-family housing loan and the disposition is to a tax-exempt organization which will continue to operate the building as a qualified low-income building.