To amend the Internal Revenue Code of 1986 to provide that the proceeds of qualified mortgage bonds may be used to provide refinancing for subprime loans, to provide a temporary increase in the volume cap for qualified mortgage bonds used to provide that refinancing, and for other purposes.

3.0.0 2517 2023-01-11T13:15:24Z 2023-01-11T13:15:24Z Senate S S 2007-12-18 110 ssfi00 Finance Committee Senate Standing Referred to 2007-12-19T02:57:33Z To amend the Internal Revenue Code of 1986 to provide that the proceeds of qualified mortgage bonds may be used to provide refinancing for subprime loans, to provide a temporary increase in the volume cap for qualified mortgage bonds used to provide that refinancing, and for other purposes. 110 5239 HR 2008-02-06 Referred to the House Committee on Ways and Means. Related bill CRS Mortgage Refinancing Initiative Act of 2008 110 2574 S 2008-01-30 Read twice and referred to the Committee on Finance. Related bill CRS 2007-12-18 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2007-12-18 Introduced in Senate IntroReferral 10000 9 Library of Congress S001142 Sen. Smith, Gordon H. [R-OR] GORDON SMITH R OR H. N K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2007-12-18 True C001057 Sen. Coleman, Norm [R-MN] Norm Coleman R MN 2007-12-18 True S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. 2008-03-31 False Taxation Armed Forces and National Security Bonds Finance and Financial Sector Housing and Community Development Income tax Minimum tax Mortgages Tax exemption Veterans' loans Taxation

00 2007-12-18 Introduced in Senate 2008-01-11T19:17:57Z Amends the Internal Revenue Code to: (1) allow proceeds of qualified mortgage bonds to be used to refinance certain residential subprime loans issued between 2002 and 2008; (2) increase in 2008 limitations on issuance amounts for qualified mortgage bonds; and (3) exempt tax-exempt interest on qualified mortgage or veterans' mortgage bonds issued before 2011 from the alternative minimum tax.

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A bill to amend the Internal Revenue Code of 1986 to provide that the proceeds of qualified mortgage bonds may be used to provide refinancing for subprime loans, to provide a temporary increase in the volume cap for qualified mortgage bonds, and for other purposes. Display Title A bill to amend the Internal Revenue Code of 1986 to provide that the proceeds of qualified mortgage bonds may be used to provide refinancing for subprime loans, to provide a temporary increase in the volume cap for qualified mortgage bonds, and for other purposes. Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide that the proceeds of qualified mortgage bonds may be used to provide refinancing for subprime loans, to provide a temporary increase in the volume cap for qualified mortgage bonds, and for other purposes. Introduced in Senate 2007-12-18T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2517is/xml/BILLS-110s2517is.xml 2007-12-18 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.