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S 3348 112th Congress Senate Armed Forces and National Security Government lending and loan guarantees Homelessness and emergency shelter Housing finance and home ownership Income tax credits Income tax exclusion Low- and moderate-income housing Veterans' loans, housing, homeless programs

A bill to amend title 38, United States Code, to improve the multifamily transitional housing loan program of the Department of Veterans Affairs, and for other purposes.

Introduced: June 27, 2012 Introduced by: Durbin, Richard J. Democratic · Illinois See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 27, 2012
Read twice and referred to the Committee on Veterans' Affairs. (text of measure as introduced: CR S4682)
Jun 27, 2012
Introduced in Senate
 Plain-English summary Congressional Research Service

Authorizes the Secretary of Veterans Affairs, with respect to loans guaranteed by the Department of Veterans Affairs (VA) for multifamily transitional housing for veterans and their families, to: (1) pay the guarantee amount, in full or in part, if the loan is not in default; and (2) forgive, waive, release, or discharge (waive) the borrower's liability with respect to the loan.

Provides that the amount paid or waived: (1) shall not be included in the borrower's gross income; and (2) with respect to the low-income housing credit, shall not be treated as an amount derived from a federal grant and shall not otherwise reduce the borrower's depreciable or eligible basis for such housing project.

What's happening now June 27, 2012

Read twice and referred to the Committee on Veterans' Affairs. (text of measure as introduced: CR S4682)

 Committees of jurisdiction 1