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HR 1675 RSCalendar No. 151110th CONGRESS1st SessionH. .R.1675
IN THE SENATE OF THE UNITED STATESApril 25, 2007Received; read twice and referred to the Committee
One Hundred Tenth Congress
of the
United States of America
Begun and held at the City of Washington on Banking, Housing, and Urban AffairsMay 17, 2007Reported by Mr. DODD, without amendment
AN ACTThursday,
the fourth day of January, two thousand and seven
An Act
To suspend the requirements of the Department of Housing and Urban Development regarding electronic filing of previous participation certificates and regarding filing of such certificates with respect to certain low-income housing investors.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE. SHORT TITLE.
SEC. 2. SUSPENSION OF ELECTRONIC FILING REQUIREMENT.
The Secretary of Housing and Urban Development shall--
(1) suspend mandatory processing of Previous Participation Certificates (form HUD-2530) under the Department of Housing and Urban Development's Automated Partners Performance System (APPS) and permit paper filings of such certificates until such time that the Secretary--
(A) revises the December 2006 draft proposed regulations under subpart H of part 200 of title 24, Code of Federal Regulations, to eliminate the unnecessary burdens and disincentives for program participants; and
(B) submits such revised draft proposed regulations to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate for review by such Committees; and
(2) suspend immediately all filing requirements under the Previous Participation Certificate process with respect to limited liability corporate investors who own or expect to own an interest in entities which are allowed or are expected to be allowed low-income housing tax credits under section 42 of the Internal Revenue Code of 1986.
Calendar No. 151
110th CONGRESS
1st Session
H. R. 1675
AN ACT
To suspend the requirements of the Department of Housing and Urban Development regarding electronic filing of previous participation certificates and regarding filing of such certificates with respect to certain low-income housing investors.
May 17, 2007
Reported without amendment
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.
U.S. Congress - Text of H.R.1675 as Enrolled Bill Preservation Approval Process Improvement Act of 2007
