S. 3326 · 111th Congress
Job Creation and Affordable Housing Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CantwellSponsor10 cosponsors · 9 D, 1 I
D
Boxer
JK
D
Kerry
CS
D
Schumer
RW
D
Wyden
BS
I
Sanders
PL
D
Leahy
DF
D
Feinstein
DS
D
Stabenow
BC
D
Cardin
JM
D
Merkley2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Job Creation and Affordable Housing Act of 2010 - Directs the Secretary of the Treasury to make a grant to each state equal to such state's low-income bond-subsidized housing election amount.
What it does: CRS summary · Introduced in Senate · May 6, 2010
Job Creation and Affordable Housing Act of 2010 - Directs the Secretary of the Treasury to make a grant to each state equal to such state's low-income bond-subsidized housing election amount. Defines "low-income bond-subsidized housing election amount" as an amount a state may elect which does not exceed 85% of the state's bond-subsidized credit amount for low-income buildings.
Requires states to use grants to make subawards to finance the construction or acquisition and rehabilitation of qualified low-income buildings. Requires the return of grant funds not used to make such subawards before January 1, 2012.
Amends the Internal Revenue Code to: (1) deny a low-income housing tax credit for bond-subsidized buildings that received a subaward under this Act; (2) allow a five-year carryback of unused low-income housing tax credit amounts and a carryback for new low-income housing investments in 2010 and 2011; and (3) allow a full offset of low-income housing tax credits against regular income tax liability.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Job Creation and Affordable Housing Act of 2010
Latest action (May 6, 2010): Read twice and referred to the Committee on Finance.
Policy area: Housing and Community Development · Origin: Senate · Introduced: May 6, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.