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4/24/2008--Reported to House amended. Housing Assistance Tax Act of 2008 - Title I: Housing Tax Incentives - Subtitle A: Multi-Family Housing - Part 1: Low-Income Housing Tax Credit - Amends Internal Revenue Code provisions relating to the low-income housing tax credit and tax-exempt bond rules for financing low-income housing projects.<br/>(Sec. 101) Increases in 2008 and 2009 the per capita amount of the low-income housing tax credit allocable by each state.<br/>(Sec. 102) Modifies rules for the low-income housing tax credit to: (1) eliminate the distinction between new and existing buildings for purposes of such credit; (2) establish a minimum credit rate for non-federally subsidized buildings; (3) set forth criteria for designating a building as federally subsidized and for considering federal assistance in calculating such credit; and (4) revise basis rules for certain state buildings and community service facilities.<br/>(Sec. 104) Repeals: (1) the prohibition against providing low-income housing tax credits to properties receiving moderate rehabilitation assistance under the Housing Act of 1937; and (2) bond posting requirements relating to the disposition of buildings for which a low-income housing tax credit was claimed.<br/>Requires states to consider the energy efficiency of a low-income housing project and its historical nature in allocating credit amounts among such projects.<br/>Extends eligibility for the low-income housing tax credit to students who receive foster care assistance under title IV (Grants to States for Aid and Services to Needy Families with Children and for Child-Welfare Services) of the Social Security Act. Part 2: Modifications to Tax-Exempt Housing Bond Rules - (Sec. 111) Modifies rules pertaining to tax-exempt housing bonds to: (1) permit treatment of certain residential rental project bonds as refunding bonds regardless of any change in the obligors of such bonds; and (2) allow continued eligibility for low-income housing tax benefits with respect to new tenants, students, and single-room occupancies. Part 3: Reforms Related to the Low-Income Housing Credit and Tax-Exempt Housing Bonds - (Sec. 121) Requires that median gross income levels established for calendar years after 2008 for determining eligibility for low-income housing tax benefits remain at the same level as preceding calendar years. (Sec. 122) Waives annual income recertification requirements for residents of low-income rental projects whose incomes do not exceed applicable limits.<br/>Subtitle B: Single Family Housing - (Sec. 131) Allows first-time homebuyers a tax credit for 10% of the purchase price of a principal residence. Limits the dollar amount of such credit to $7,500.<br/>(Sec. 132) Allows individual taxpayers who claim the standard deduction an additional deduction from gross income for state and local real property taxes. Subtitle C: General Provisions - (Sec. 141) Authorizes in 2008 an additional $10 billion in the volume cap for issuing tax-qualified bonds for certain residential rental projects.<br/>Allows until December 31, 2010, the use of mortgage bond proceeds to refinance certain subprime residential mortgage loans made between 2002 and 2008.<br/>(Sec. 142) Exempts from the alternative minimum tax (AMT) tax-exempt interest on certain housing bonds. Allows low-income housing and rehabilitation tax credit amounts to offset AMT liability. (Sec. 143) Allows certain municipal bonds that are guaranteed by federal home loan banks to qualify as tax-exempt bonds. (Sec. 144) Sets forth an alternative procedure for furnishing a non-foreign affidavit in connection with the sale of a U.S. real property interest (USRPI) and the exemption from withholding of tax requirements. Allow a transferor of a USRPI to furnish a non-foreign affidavit to a qualified substitute (i.e., a person responsible for closing the transaction involving a USRPI or the transferee's agent). Denies an exemption from withholding of tax requirements if the qualified substitute or a transferee has actual knowledge that the non-foreign affidavit is false. (Sec. 145) Increases from 35 to 50 the percentage of property that may be leased to a tax-exempt entity without affecting such property's allowable rehabilitation tax credit.<br/>Title II: Reforms Related to Real Estate Investment Trusts - Subtitle A: Foreign Currency And Other Qualified Activities - (Sec. 201) Amends the Internal Revenue Code relating to real estate investment trusts (REITs) to treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income. Revises income and asset tests for such REITs for purposes of determining REIT qualifying income.<br/>Subtitle B: Taxable REIT Subsidiaries - (Sec. 211) Increases from 20 to 25% the the maximum value of a REIT's total assets that may be represented by securities of one or more taxable REIT subsidiaries.<br/>Subtitle C: Dealer Sales - (Sec. 221) Reduces from four to two years the holding period for certain assets exempted from prohibited transaction rules for REITs.<br/>(Sec. 222) Revises criteria for imposing an excise tax penalty for prohibited transactions for sales by REITs.<br/>Subtitle D: Health Care REITs - (Sec. 231) Allows the treatment of rental payments by a health care facility to a taxable REIT subsidiary to be treated as qualifying REIT rental income.<br/>Subtitle E: Effective Dates - (Sec. 241) Sets forth the effective dates for provisions of this Title.<br/>Title III: Revenue Provisions - (Sec. 301) Requires brokers who are required to report gross proceeds from the sale of any publicly-traded security to report the holder's adjusted basis in such security and whether any gain or loss with respect to such security is long or short-term.<br/>(Sec. 302) Delays until 2010 the application of special rules for the worldwide allocation of interest for purposes of computing the limitation on the foreign tax credit.<br/>(Sec. 303) Amends the Tax Increase Prevention and Reconciliation Act of 2005 to: (1) repeal the adjustment to the estimated tax liability of corporations with at least $1 billion in assets for the third quarter of 2012; and (2) increase the estimated tax payments of such corporations in the third quarter of 2013 by 13%.<br/>

1209063000 2008-04-24 Fri Nov 07 05:49:13 -0600 2008 introduced 49906 '1986':8 'code':6 'hous':13 'amend':2 'assist':11 'intern':4 'provid':10 'revenu':5 58113 false official introduced 49906 'act':4 'tax':3 '2008':6 'hous':1 'assist':2 58160 false short reported to house 49906 'act':4 'tax':3 '2008':6 'hous':1 'assist':2 62794 false short action 49906 1209063000 Thu Apr 24 15:50:00 -0500 2008 151305 Reported (Amended) by the Committee on Ways and Means. H. Rept. 110-606. R000053 1930-06-11 9116 2354 Rayburn House Office Building https://forms.house.gov/rangel/forms/contact.shtml 15 202-225-0816 Charles 'd':4 'ny':5 '-15':6 'rep':1 'charl':2,7,9 'rangel':3,8,10 M 400333 Rangel Charles_B._Rangel B. Rep. Charles Rangel [D, NY-15] 4066 N00000964 13932 Democrat 202-225-4365 Roman Catholic NY Charlie Charles Rangel 1.20338983050847 http://www.house.gov/rangel/ RepRangel B001231 1951-01-20 3482 405 Cannon House Office Building http://berkley.house.gov/contact/email.html 1 202-225-3119 Shelley 'd':4 '-1':6 'nv':5 'rep':1 'berkley':3,8,10 'shelley':2,7,9 F 400024 Berkley Shelley_Berkley Rep. Shelley Berkley [D, NV-1] 1739 N00009818 7618 Democrat 202-225-5965 Jewish NV Shelley Berkley 1.66666666666667 http://berkley.house.gov/ B000574 1948-08-16 4248 2267 Rayburn House Office Building http://blumenauer.house.gov/index.php?option=com_email_form&Itemid=206 3 202-225-8941 Earl 'd':4 '-3':6 'rep':1 'earl':2,7,9 'blumenau':3,8,10 M 400033 Blumenauer Earl_Blumenauer Rep. Earl Blumenauer [D, OR-3] 1882 N00007727 7280 Democrat 202-225-4811 OR Earl Blumenauer 3.92307692307692 http://blumenauer.house.gov/ C001038 1962-03-16 2023 312 Cannon House Office Building https://forms.house.gov/crowley/contact.shtml 7 202-225-1909 Joseph 'd':4 '-7':6 'ny':5 'rep':1 'joseph':2,7,9 'crowley':3,8,10 M 400087 Crowley Joseph_Crowley Rep. Joseph Crowley [D, NY-7] 785 N00001127 6822 Democrat 202-225-3965 Roman Catholic NY Joe Joseph Crowley 0.142857142857143 http://crowley.house.gov/ E000288 1963-08-04 7128 1130 Longworth House Office Building http://ellison.house.gov/index.php?option=com_content&task=view&id=87 5 202-225-4886 Keith 'd':4 '-5':6 'mn':5 'rep':1 'keith':2,7,9 'ellison':3,8,10 M 412215 Ellison Keith_Ellison Rep. Keith Ellison [D, MN-5] 2085 N00028257 9072 Democrat 202-225-4755 MN Keith Ellison 6.05882352941176 http://ww3.house.leg.state.mn.us/members/members.asp?district=58B RepKeithEllison E000287 1959-11-29 6712 5 Rahm 'd':4 '-5':6 'il':5 'rep':1 'rahm':2,7,9 'emanuel':3,8,10 M 400120 Emanuel Rahm_Emanuel Rep. Rahm Emanuel [D, IL-5] 2658 N00024813 7537 Democrat Jewish IL Rahm Emanuel 3.0 G000554 3907 502 Cannon House Office Building http://giffords.house.gov/contact/mailing-list/ 8 202-225-0378 Gabrielle 'd':4 '-8':6 'az':5 'rep':1 'gifford':3,8,10 'gabriell':2,7,9 F 412188 Giffords Gabrielle_Giffords Rep. Gabrielle Giffords [D, AZ-8] 2290 N00027829 9361 Democrat 202-225-2542 AZ Gabrielle Giffords 2.8 http://giffords.house.gov/contact/mailing-list/ giffords2 J000288 2015 1133 Longworth House Office Building http://hankjohnson.house.gov/contact_hank_write.shtml 4 202-226-0691 Henry 'd':4 '-4':6 'ga':5 'rep':1 'hank':9 'henri':2,7,10 'johnson':3,8,11 M 412199 Johnson Hank_Johnson C. Rep. Henry Johnson [D, GA-4] 576 Hank N00027848 6823 Democrat 202-225-1605 GA Hank Henry Johnson 5.07142857142857 http://hankjohnson.house.gov/ RepHankJohnson J000284 1949-09-10 753 Stephanie 'jone':2,4,6 'stephani':1,3,5 F 400208 Jones Stephanie_Tubbs_Jones Tubbs Stephanie Jones 118 N00003561 6661 Democrat Baptist Stephanie Jones L000287 1940-02-21 6762 343 Cannon House Office Building http://www.house.gov/formjohnlewis/contact.html 5 202-225-0351 John 'd':4 '-5':6 'ga':5 'rep':1 'john':2,7,9 'lewi':3,8,10 M 400240 Lewis John_Lewis R. Rep. John Lewis [D, GA-5] 3304 N00002577 7698 Democrat 202-225-3801 Baptist GA John Lewis 4.3 http://johnlewis.house.gov/ RepJohnLewis M001164 2172 Tim 'tim':1,3,5 'mahoney':2,4,6 M 412197 Mahoney Timothy_Mahoney Tim Mahoney 1525 N00027804 5158 Democrat Tim Mahoney M000404 1936-12-28 2613 1035 Longworth House Office Building http://www.house.gov/mcdermott/contact.shtml 7 202-225-6197 James 'd':4 '-7':6 'wa':5 'jim':9 'rep':1 'jame':2,7,10 'mcdermott':3,8,11 M 400262 McDermott Jim_McDermott A. Rep. James McDermott [D, WA-7] 927 Jim N00009829 10489 Democrat 202-225-3106 Episcopalian WA Jim James McDermott 4.77272727272727 http://www.house.gov/mcdermott/ P000422 1952-09-02 3180 1501 Longworth House Office Building http://www.house.gov/formpomeroy/zipauth.htm 0 202-226-0893 Earl 'd':4 '-0':6 'nd':5 'rep':1 'earl':2,7,9 'pomeroy':3,8,10 M 400323 Pomeroy Earl_Pomeroy Ralph Rep. Earl Pomeroy [D, ND-0] 2188 N00008113 7559 Democrat 202-225-2611 Presbyterian ND Earl Pomeroy 5.0 http://www.pomeroy.house.gov/ earlpomeroy R000568 1946-12-09 1971 2458 Rayburn House Office Building http://www.rodriguez.house.gov/index.php?option=com_content&task=view&id=70&Itemid=46 23 202-225-2237 Ciro 'd':4 'tx':5 '-23':6 'rep':1 'ciro':2,7,9 'rodriguez':3,8,10 M 400339 Rodriguez Ciro_Rodriguez D. Rep. Ciro Rodriguez [D, TX-23] 642 N00009828 6688 Democrat 202-225-4511 Catholic TX Ciro Rodriguez 2.5 http://rodriguez.house.gov/ S001170 3596 1508 Longworth House Office Building http://forms.house.gov/shea-porter/webform/issue_subscribe.htm 1 202-225-5822 Carol 'd':6 '-1':8 'nh':7 'rep':1 'shea':4,11,15 'carol':2,9,13 'porter':5,12,16 'shea-port':3,10,14 F 412219 Shea-Porter Carol_Shea-Porter Rep. Carol Shea-Porter [D, NH-1] 1822 N00028091 8330 Democrat 202-225-5456 NH Carol Shea-Porter 1.25 http://shea-porter.house.gov/ S001165 1951-01-26 1425 1024 Longworth House Office Building https://forms.house.gov/sires/webforms/issue_subscribe.htm 13 202-226-0792 Albio 'd':4 'nj':5 '-13':6 'rep':1 'sire':3,8,10 'albio':2,7,9 M 412186 Sires Albio_Sires Rep. Albio Sires [D, NJ-13] 624 N00027523 5807 Democrat 202-225-7919 NJ Albio Sires http://www.house.gov/sires/ RepSiresNJ13 T000460 1951-01-24 1987 231 Cannon House Office Building http://mikethompson.house.gov/contact/email.shtml 1 202-225-4335 C. 'c':7,10 'd':4 '-1':6 'ca':5 'rep':1 'mike':9 'michael':2 'thompson':3,8,11 M 400403 Thompson Mike_Thompson Michael Rep. Michael Thompson [D, CA-1] 731 Mike N00007419 6998 Democrat 202-225-3311 Catholic CA Mike C. Thompson 1.5 http://mikethompson.house.gov W000800 4388 1404 Longworth House Office Building http://www.house.gov/formwelch/issue_subscribe.htm 0 202-225-6790 Peter 'd':4 '-0':6 'vt':5 'rep':1 'peter':2,7,9 'welch':3,8,10 M 412239 Welch Peter_Welch Rep. Peter Welch [D, VT-0] 2495 N00000515 8197 Democrat 202-225-4115 VT Peter Welch 5.5 http://welch.house.gov/ action 49906 1209063000 Thu Apr 24 15:50:00 -0500 2008 151305 Reported (Amended) by the Committee on Ways and Means. H. Rept. 110-606. calendar 49906 1209063000 Thu Apr 24 15:50:00 -0500 2008 151306 Placed on the Union Calendar, Calendar No. 377. action 49906 1207713600 Wed Apr 09 00:00:00 -0500 2008 151303 Committee Consideration and Mark-up Session Held. calendar 49906 1207713600 Wed Apr 09 00:00:00 -0500 2008 151304 Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 5. introduced 49906 1207627200 Tue Apr 08 00:00:00 -0500 2008 149156 action 49906 1207627200 Tue Apr 08 00:00:00 -0500 2008 149157 Referred to the House Committee on Ways and Means.