H.R.3260: To require the Secretary of the Treasury to modify regulations to provide that certain Federal subsidies shall not be considered a grant made with respect to a building or its operation for purposes of the low-income housing tax credit.

To require the Secretary of the Treasury to modify regulations to provide that certain Federal subsidies shall not be considered a grant made with respect to a building or its operation for purposes of the low-income housing tax credit. 7/31/2007--Introduced. Directs the Secretary of the Treasury to modify certain Treasury Regulations to provide that none of the following shall be considered a grant made with respect to a building or its operation for purposes of the required reduction of eligible basis by grants received under the low-income housing tax credit: (1) specified rental assistance under the Housing Act of 1949, Housing Act of 1959, and the Cranston-Gonzalez National Affordable Housing Act; (2) loan guarantees for multifamily rental housing in rural area under the Housing Act of 1949; (3) periodic interest reduction payments on behalf of owner of rental or cooperative housing project for low-income families under the National Housing Act; (4) modernization, operating,[...]

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