3.0.0 906 2022-02-03T06:07:16Z 2022-02-03T06:07:16Z House H HR 2009-02-04 111 hswm00 Ways and Means Committee House Standing Referred to 2009-02-04T15:08:43Z hsba00 Financial Services Committee House Standing Referred to 2009-02-04T15:08:42Z 2009-02-04 Referred to House Ways and Means IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2009-02-04 Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2009-02-04 Referred to House Financial Services IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-02-04 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-02-04 Introduced in House IntroReferral 1000 9 Library of Congress T000057 Rep. Tauscher, Ellen O. [D-CA-10] ELLEN TAUSCHER D CA O. 10 N C001050 Rep. Cardoza, Dennis A. [D-CA-18] Dennis Cardoza D CA A. 18 2009-02-04 True L000397 Rep. Lofgren, Zoe [D-CA-16] ZOE LOFGREN D CA 16 2009-02-04 True B001231 Rep. Berkley, Shelley [D-NV-1] SHELLEY BERKLEY D NV 1 2009-02-04 True H000627 Rep. Hinchey, Maurice D. [D-NY-22] MAURICE HINCHEY D NY D. 22 2009-02-04 True F000116 Rep. Filner, Bob [D-CA-51] BOB FILNER D CA 51 2009-02-09 False C001059 Rep. Costa, Jim [D-CA-20] Jim Costa D CA 20 2009-02-12 False H001034 Rep. Honda, Michael M. [D-CA-15] MICHAEL HONDA D CA M. 15 2009-02-25 False P000598 Rep. Polis, Jared [D-CO-2] Jared Polis D CO 2 2009-03-17 False Housing and Community Development Financial crises and stabilization Government lending and loan guarantees Housing and community development funding Housing finance and home ownership Income tax exclusion Income tax rates Interest, dividends, interest rates Intergovernmental relations Securities State and local finance Housing and Community Development 00 2009-02-04 Introduced in House 2009-04-08T21:29:17Z Housing Disaster Area Foreclosure Prevention Act of 2009 - Directs the Secretary of the Treasury (Secretary) to take necessary steps to support the mortgage revenue bond market, including the use of certain funds made available under the Emergency Economic Stabilization Act of 2008 (EESA) to purchase mortgage revenue bonds at an interest rate that makes housing programs carried out with the proceeds of such bonds economically feasible.

Instructs the Secretary to implement a program to use specified TARP amounts to reduce the outstanding debt, in connection with their refinancing, on mortgages on certain owner-occupied residential property having an appraised value less than the outstanding mortgage obligation (qualifying existing underwater mortgages).

Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) each to implement a program to purchase (buy down) and securitize qualified refinancing mortgages and qualified new mortgages on single-family housing in accordance with policies and procedures established by the Director of the Federal Housing Finance Agency (FHFA).

Instructs the Secretary of Housing and Urban Development (HUD) to take action to increase access by state housing finance agencies to mortgage insurance in order to make it available for mortgages financed by bonds issued by such agencies.

Amends the Internal Revenue Code to set forth housing tax incentives including: (1) a temporary increase in the volume cap for housing bonds issued for areas most affected by the foreclosure crisis; and (2) an extension of time for using such increased volume cap for housing bonds.

Revises special rules for refinancing with the proceeds of a mortgage revenue bond issue of mortgages on a residence which was originally financed through a qualified subprime loan. Eliminates the restriction of a qualified subprime loan to one with an adjustable rate. Extends such special rules an additional year.

Repeals the application to certain housing refunding bonds of the alternative minimum tax (AMT) on the otherwise tax-exempt interest on specified private activity bonds.

Revises mortgage revenue bond requirements to include residences in high foreclosure areas in the meaning of targeted area residences.

]]> Housing Disaster Area Foreclosure Prevention Act of 2009 Short Titles as Introduced Housing Disaster Area Foreclosure Prevention Act of 2009 Display Title Housing Disaster Area Foreclosure Prevention Act of 2009 Official Title as Introduced To provide incentives for affordable housing. Introduced in House 2009-02-04T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr906ih/xml/BILLS-111hr906ih.xml 2009-02-04 Referred to House Ways and Means 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.