[Congressional Record Volume 168, Number 199 (Wednesday, December 21, 2022)]
[Senate]
[Page S9783]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

       SA 6591. Ms. CANTWELL submitted an amendment intended to be proposed 
     to amendment SA 6552 proposed by Mr. Leahy to the bill H.R. 2617, to 
     amend section 1115 of title 31, United States Code, to amend the 
     description of how performance goals are achieved, and for other 
     purposes; which was ordered to lie on the table; as follows:
     
             On page 2404, after line 3, insert the following:
     
                           TITLE VIII--OTHER PROVISIONS
     
          SEC. 801. INCREASE IN STATE HOUSING CREDIT CEILING FOR 2022, 
                        2023, 2024, 2025.
     
            (a) In General.--Section 42(h)(3)(I) is amended to read as 
          follows:
     
            ``(I) Increase in state housing credit ceiling for 2022, 
          2023, 2024 and 2025.--In the case of calendar years 2022, 
          2023, 2024, and 2025, each of the dollar amounts in effect 
          under clauses (I) and (II) of subparagraph (C)(ii) for any 
          such calendar year (after any increase under subparagraph 
          (H)) shall be increased by multiplying such dollar amount by 
          1.125.''.
     
            (b) Effective Date.--The amendment made by this section 
          shall apply to calendar years beginning after December 31, 
          2021.
     
          SEC. 802. TAX-EXEMPT BOND FINANCING REQUIREMENT.
     
            (a) In General.--Section 42(h)(4)(B) is amended to read as 
          follows:
            ``(B) Special rule where a required percent of buildings is 
          financed with tax-exempt bonds subject to volume cap.--For 
          purposes of subparagraph (A), paragraph (1) shall not apply 
          to any portion of the credit allowable under subsection (a) 
          with respect to a building if--
            ``(i) 50 percent or more of the aggregate basis of any such 
          building and the land on which the building is located is 
          financed by any obligation which is described in subparagraph 
          (A) and issued in a calendar year other than 2023, 2024, or 
          2025,
            ``(ii) 40 percent or more of the aggregate basis of such 
          building and the land on which the building is located is 
          financed by any obligation which is described in subparagraph 
          (A) and issued in calendar year 2023,
            ``(iii) 33 percent or more of the aggregate basis of such 
          building and the land on which the building is located is 
          financed by any obligation which is described in subparagraph 
          (A) and issued in calendar year 2024, or
            ``(iv) 25 percent of more of the aggregate basis of such 
          building and the land on which the building is located is 
          financed by any obligation which is described in subparagraph 
          (A) and issued in calendar year 2025.''.
            (b) Effective Date.--The amendment made by this section 
          shall apply to any building any portion of which, or of the 
          land on which the building is located, is financed by an 
          obligation which is described in section 42(h)(4)(A) of the 
          Internal Revenue Code of 1986 and which is part of an issue 
          the issue date of which is after December 31, 2022, and 
          before January 1, 2026.
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