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.
About This Bill
Committee
Latest Action · June 27, 2012
Read twice and referred to the Committee on Veterans' Affairs. (text of measure as introduced: CR S4682)
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.
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