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[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2097 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 2097

   To amend the Internal Revenue Code of 1986 to expand the military 
  housing allowance exclusion for purposes of determining area gross 
   income in determining whether a residential rental property is a 
   qualified residential rental property for purposes of the exempt 
              facility bond rules, and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              June 2, 2011

  Mr. Owens introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL

 
   To amend the Internal Revenue Code of 1986 to expand the military 
  housing allowance exclusion for purposes of determining area gross 
   income in determining whether a residential rental property is a 
   qualified residential rental property for purposes of the exempt 
              facility bond rules, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Military Families Affordable Homes 
Act of 2011''.

SEC. 2. EXTENSION AND MODIFICATION OF HOUSING ALLOWANCE EXCLUSION FOR 
              DETERMINING AREA MEDIAN GROSS INCOME FOR QUALIFIED 
              RESIDENTIAL RENTAL PROJECT EXEMPT FACILITY BONDS.

    (a) Extension.--Subsection (b) of section 3005 of the Housing 
Assistance Tax Act of 2008 is amended by striking ``January 1, 2012'' 
each place it appears and inserting ``January 1, 2015''.
    (b) Modification.--Subparagraph (B) of section 142(d)(2) of the 
Internal Revenue Code of 1986 is amended--
            (1) in clause (iii)(I) by striking ``qualified military 
        installation to which'' and all that follows through ``December 
        31, 2005'' and inserting ``military installation or facility'', 
        and
            (2) by striking clause (iv).
    (c) Effective Dates.--
            (1) Subsection (a).--The amendments made by subsection (a) 
        shall take effect as if included in the enactment of section 
        3005 of the Housing Assistance Tax Act of 2008.
            (2) Subsection (b).--The amendments made by subsection (b) 
        shall apply to--
                    (A) determinations made after the date of the 
                enactment of this Act and before January 1, 2015, in 
                the case of any qualified building (as defined in 
                section 142(d)(2)(B)(iii) of the Internal Revenue Code 
                of 1986)--
                            (i) with respect to which housing credit 
                        dollar amounts have been allocated on or before 
                        the date of the enactment of this Act, or
                            (ii) with respect to buildings placed in 
                        service before such date of enactment, to the 
                        extent paragraph (1) of section 42(h) of such 
                        Code does not apply to such building by reason 
                        of paragraph (4) thereof, but only with respect 
                        to bonds issued before such date of enactment, 
                        and
                    (B) determinations made after the date of enactment 
                of this Act, in the case of qualified buildings (as so 
                defined)--
                            (i) with respect to which housing credit 
                        dollar amounts are allocated after the date of 
                        the enactment of this Act and before January 1, 
                        2015, or
                            (ii) with respect to which buildings placed 
                        in service after the date of enactment of this 
                        Act and before January 1, 2015, to the extent 
                        paragraph (1) of section 42(h) of such Code 
                        does not apply to such building by reason of 
                        paragraph (4) thereof, but only with respect to 
                        bonds issued after such date of enactment and 
                        before January 1, 2015.
                                 <all>
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