H.R. 3260 would 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.

== Detailed Summary ==

<summary>
(LogDirects 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, and rental assistance under the Native American Housing Assistance and Self-Determination Act of 1996; (5) certain assistance under the Stewart B. McKinney Homeless Assistance Act for grantees following a current housing affordability strategy or an approved comprehensive homeless assistance plan; (6) tenant-based rental assistance under the Cranston-Gonzalez National Affordable Housing Act; (7) assistance under the AIDS Housing Opportunity Act; (8) per diem payments for furnishing services to edithomeless veterans; (9) rent supplements under the wikiHousing and beUrban Development Act of 1965; (10) rural housing voucher program assistance under the firstHousing Act of 1949; and (11) any other ongoing payment similar to provide a detailed summaryany of these payments and designed to reduce cash flow needs from rent to enable the bill!)property to be rented to low-income tenants.<br>
</summary>

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== Status of the Legislation ==

<status>
(Log inLatest Major Action: 7/31/2007: Referred to House committee. Status: Referred to edit the wikiHouse Committee on Ways and be the first to update the status of the bill!)Means.
</status>

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== Points in Favor ==

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== Points Against ==

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