A bill to amend the Internal Revenue Code of 1986 to allow the use of qualified mortgage revenue bonds for refinancing mortgages and to provide a temporary increase in the volume cap for such bonds.
Mortgage Refinancing Initiative Act of 2008 - Amends the Internal Revenue Code to: (1) allow, until December 31, 2009, proceeds of qualified mortgage bonds to be used to refinance an existing mortgage; and (2) increase in 2008 and 2009 the national limitation amount for such bonds.
Referred to the House Committee on Ways and Means.
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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