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.

Summary

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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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 27 June 2012

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 27 June 2012

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 27 June 2012

  Open at official source

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