H.R. 5937 would facilitate the preservation of certain affordable housing dwelling units.

== Detailed Summary ==

<summary>
Authorizes the Secretary<b>(This measure has not been amended since it was introduced. The summary of Housing and Urban Development (HUD), upon request of the owner of a multifamily housing project to which specified contracts are subject, to: (1) convert such contracts to a contract for project-based rental assistance under section 8 of the United States Housing Act of 1937; and (2) treat the contemplated resulting contract as eligible for initial renewal under the Multifamily Assisted Housing Reform and Affordability Act of 1997, if certain conditions are met. that version is repeated here.)</b>

DeemsAuthorizes the Secretary of Housing and Urban Development (HUD), upon request of the owner of a multifamily housing project to which specified contracts are subject, to: (1) convert such contracts to a contract for project-based rental assistance under section 8 of the United States Housing Act of 1937; and (2) treat the contemplated resulting contract as eligible for initial renewal under the Multifamily Assisted Housing Reform and Affordability Act of 1997, if certain conditions are met.

Deems the owner to be in compliance with income-targeting requirements of the United States Housing Act of 1937 by serving low-income families.

Considers each family residing in an assisted dwelling unit on the date of such conversion to meet the applicable requirements for income eligibility and occupancy.
</summary>

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== Status of the Legislation ==

<status>
Latest Major Action: 5/6/2008: House floor actions.5/8/2008: Referred to Senate committee. Status: AtReceived in the conclusion of debate, the chair put the question on the motionSenate and Read twice and referred to suspend the rules. Mr. Culberson objected to the voteCommittee on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was withdrawn.Banking, Housing, and Urban Affairs.
</status>

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== Points in Favor ==

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== Points Against ==

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