To amend title VI of the Social Security Act to allow coronavirus State and local fiscal recovery funds to be used for low-income housing credit projects.
LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence Act or the LIFELINE Act
This bill permits states, territories, or tribal governments to use State and Local Fiscal Recovery Funds to finance qualified low-income housing projects (i.e., projects for residential rental property meeting certain income tests) with loans obligated by December 31, 2024, and having maturities of 30 or more years.
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