A bill to amend title VI of the Social Security Act to allow coronavirus State and local fiscal recovery funds to be used for low-income housing credit projects.
LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence Act or the LIFELINE Act
This bill permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by December 31, 2024, and having maturities of 30 or more years.
Referred to the House Committee on Oversight and Reform.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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