A bill to extend the authority for states to issue tax-exempt mortgage subsidy bonds, to require a study on the feasibility of mortgage credit certificates, and for other purposes.

Amends the Internal Revenue Code to extend for five years, until December 31, 1988, the period during which mortgage revenue bonds may be issued as tax-exempt bonds (interest excluded from gross income). Directs the Secretary of the Treasury to submit to the Congress a study on the feasibility of providing an income tax credit for qualified mortgage credit certificates and the authority for States to issue mortgage credit certificates.