H.R. 5239 (110th): To amend the Internal Revenue Code of 1986 to provide that the proceeds of qualified mortgage bonds may be used to provide refinancing for subprime loans, to provide a temporary increase in the volume cap for qualified mortgage bonds used to provide that refinancing, and for other purposes.

Introduced:
Feb 06, 2008 (110th Congress, 2007–2009)
Sponsor:
Rep. Jon Porter Sr. [R-NV3]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced on February 6, 2008, in a previous session of Congress, but was not enacted.

Progress
Introduced Feb 06, 2008
Cosponsors
1 cosponsors (1D) (show)
Committees

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Last updated Feb 06, 2008.
6 pages

Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

2/6/2008--Introduced.
Amends the Internal Revenue Code to: (1) allow proceeds of qualified mortgage bonds to be used to refinance certain residential subprime loans issued between 2002 and 2008; (2) increase in 2008 limitations on issuance amounts for qualified mortgage bonds; and (3) exempt tax-exempt interest on qualified mortgage or veterans' mortgage bonds issued before 2011 from the alternative minimum tax.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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