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HR 5944 97th Congress House Taxation Economics and Public Finance Government securities Home ownership Housing and Housing Finance Income tax Interest rates Mortgage interest rates Mortgage loans Mortgages Securities and Investments Tax exclusion

A bill to amend the Internal Revenue Code of 1954 to clarify certain requirements which apply to mortgage subsidy bonds.

Introduced: March 24, 1982 See on congress.gov
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This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 19, 1982
See H.R.4961.
Mar 24, 1982
Referred to House Committee on Ways and Means.
Mar 24, 1982
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to revise requirements for the tax exclusion of interest on mortgage subsidy bonds. Revises the arbitrage requirements for tax-exempt bonds to increase the amount by which interest rates on such bonds may exceed the interest rates on mortgages financed with such bonds.

Increases the amount by which the acquisition cost of bond-financed residences may exceed the average area purchase price of other homes in the same statistical area.

Revises the new homeowner requirements to allow eligibility for bond-financed mortgages for persons who are residing in substandard housing or who have lost their homes because of natural disasters or governmental action.

What's happening now August 19, 1982

See H.R.4961.

 Related & companion bills 2
  • HR 4961 Related bill Tax Equity and Fiscal Responsibility Act of 1982
  • HR 5962 Identical bill A bill to amend the Internal Revenue Code of 1954 to clarify certain requirements which apply to mortgage subsidy bonds.
 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Smith, Christopher H.
New Jersey · Apr 29, 1982
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5944: A bill to amend the Internal Revenue Code of 1954 to clarify certain requirements which apply to mortgage subsidy bonds.. 97th Congress. Open America. https://openamerica.io/bill/97-HR-5944/
MLA
"H.R. 5944: A bill to amend the Internal Revenue Code of 1954 to clarify certain requirements which apply to mortgage subsidy bonds.." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-HR-5944/.
Bluebook (legal)
H.R. 5944, 97th Cong. (2026), https://openamerica.io/bill/97-HR-5944/.
Markdown link
[H.R. 5944: A bill to amend the Internal Revenue Code of 1954 to clarify certain requirements which apply to mortgage subsidy bonds.](https://openamerica.io/bill/97-HR-5944/)
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