Page:United States Statutes at Large Volume 122.djvu/2681

 12 2 STA T . 2 658PUBLIC LA W 11 0– 28 9—J UL Y3 0, 2008 Sec.283 2. Ap p rovalsbyD epar tm e n to fH o u s i n g an dU rban Development. Sec. 2833. P ro j ect approvals by rural h ousing service. Sec. 283 4 . Use of F HA loans w ith housing ta x credits. Sec. 283 5 . O ther HUD programs. TI T LE I X—M IS C ELLA N EOUS Sec. 2 901 . Homeless assistance. Sec. 2902. Increasing access and understanding of energy efficient mortgages. DI V ISION C—TAX -R ELATED PROVISIONS Sec. 3000. Short title etc. TITLE I—HOUSIN G TAX INCENTIVES Subtitle A—Multi-Family Housing P ART I—L OW -I NC O ME HO USI N G TA X CRE D IT Sec. 3001. Temporary increase in volume cap for low-income housing tax credit. Sec. 3002. Determination of credit rate. Sec. 3003. Modifications to definition of eligible basis. Sec. 3004. Other simplification and reform of low-income housing tax incentives. Sec. 3005. Treatment of military basic pay. PART II—MODI F ICATIONS TO TAX-EXEM P T HOUSING B OND RU L ES Sec. 300 7 . Recycling of tax-exempt debt for financing residential rental projects. Sec. 3008. Coordination of certain rules applicable to low-income housing credit and q ualified residential rental project exempt facility bonds. PART III—REFORMS RELATED TO T H E LOW-INCOME HOUSING CREDIT AND TAX- EXEMPT HOUSING BONDS Sec. 3009. Hold harmless for reductions in area median gross income. Sec. 3010. Exception to annual current income determination requirement where determination not relevant. Subtitle B—Single Family Housing Sec. 3011. First-time homebuyer credit. Sec. 3012. Additional standard deduction for real property taxes for nonitemi z ers. Subtitle C—General Provisions Sec. 3021. Temporary liberalization of tax-exempt housing bond rules. Sec. 3022. Repeal of alternative minimum tax limitations on tax-exempt housing bonds , low-income housing tax credit, and rehabilitation credit. Sec. 3023. Bonds guaranteed by Federal home loan ban k s eligible for treatment as tax-exempt bonds. Sec. 3024. Modification of rules pertaining to FIRPTA nonforeign affidavits. Sec. 3025. Modification of definition of tax-exempt use property for purposes of the rehabilitation credit. Sec. 302 6 . Extension of special rule for mortgage revenue bonds for residences lo- cated in disaster areas. Sec. 3027. Transfer of funds appropriated to carry out 2008 recovery rebates for in- dividuals. TITLE II—REFORMS RELATED TO REAL ESTATE INVESTMENT TRUSTS Subtitle A—Foreign Currency and Other Q ualified Activities Sec. 3031. Revisions to REIT income tests. Sec. 3032. Revisions to REIT asset tests. Sec. 3033. Conforming foreign currency revisions. Subtitle B—Taxable REIT Subsidiaries Sec. 3041. Conforming taxable REIT subsidiary asset test. Subtitle C—Dealer Sales Sec. 3051. Holding period under safe harbor. Sec. 3052. Determining value of sales under safe harbor. Subtitle D—Health Care REITs Sec. 3061. Conformity for health care facilities. Subtitle E—Effective Dates Sec. 3071. Effective dates.

�