Preservation Approval Process Improvement Act of 2007

Bill: 110-hr-1675
Sponsor: Rep. Bean, Melissa L. [D-IL-8]
Introduced: 2007-03-26 in the House
Policy area: Housing and Community Development
Subjects: Administrative procedure
Affordable housing
Apartment houses
Commerce
Congress
Congressional oversight
Congressional reporting requirements
Corporation taxes
Department of Housing and Urban Development
Electronic data interchange
Electronic government information
Finance and Financial Sector
Government Operations and Politics
Government paperwork
Housing subsidies
Income tax
Investors
Law
Low-income housing
Real estate business
Rental housing
Science, Technology, Communications
Social Welfare
Tax credits
Taxation

Summary:
action_date: 2007-03-26
text: 
Preservation Approval Process Improvement Act of 2007 - Directs the Secretary of Housing and Urban Development to: (1) suspend mandatory processing of Previous Participation Certificates under the Automated Partners Performance System (APPS); and (2) permit paper filings of such certificates until the December 2006 draft of specified proposed regulations are revised and submitted for review to certain congressional committees.
 
Instructs the Secretary also to suspend immediately all filing requirements under the Previous Participation Certificate process with respect to limited liability corporate investors who own or expect to own an interest in entities which are allowed or are expected to be allowed specified low-income housing tax credits under the Internal Revenue Code.

action_date: 2007-04-23
text: 

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

 
Preservation Approval Process Improvement Act of 2007 - Directs the Secretary of Housing and Urban Development to suspend mandatory processing of Previous Participation Certificates under the Automated Partners Performance System and permit paper filings of such certificates until the Secretary: (1) revises the December 2006 draft of specified proposed regulations to eliminate unnecessary burdens and disincentives for program participants; and (2) submits such revised draft proposed regulations to certain congressional committees for review.
 
Instructs the Secretary also to suspend immediately all filing requirements under the Previous Participation Certificate process with respect to limited liability corporate investors who own or expect to own an interest in entities which are allowed or are expected to be allowed specified low-income housing tax credits under the Internal Revenue Code.

action_date: 2007-04-24
text: 

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

 
Preservation Approval Process Improvement Act of 2007 - Directs the Secretary of Housing and Urban Development to suspend mandatory processing of Previous Participation Certificates under the Automated Partners Performance System and permit paper filings of such certificates until the Secretary: (1) revises the December 2006 draft of specified proposed regulations to eliminate unnecessary burdens and disincentives for program participants; and (2) submits such revised draft proposed regulations to certain congressional committees for review.
 
Instructs the Secretary also to suspend immediately all filing requirements under the Previous Participation Certificate process with respect to limited liability corporate investors who own or expect to own an interest in entities which are allowed or are expected to be allowed specified low-income housing tax credits under the Internal Revenue Code.

action_date: 2007-05-17
text: 

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

Preservation Approval Process Improvement Act of 2007 - Directs the Secretary of Housing and Urban Development to suspend mandatory processing of Previous Participation Certificates under the Automated Partners Performance System and permit paper filings of such certificates until the Secretary: (1) revises the December 2006 draft of specified proposed regulations to eliminate unnecessary burdens and disincentives for program participants; and (2) submits such revised draft proposed regulations to certain congressional committees for review.

Instructs the Secretary also to suspend immediately all filing requirements under the Previous Participation Certificate process with respect to limited liability corporate investors who own or expect to own an interest in entities which are allowed or are expected to be allowed specified low-income housing tax credits under the Internal Revenue Code.

action_date: 2007-05-24
text: 

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

 
Preservation Approval Process Improvement Act of 2007 - Directs the Secretary of Housing and Urban Development to suspend mandatory processing of Previous Participation Certificates under the Automated Partners Performance System and permit paper filings of such certificates until the Secretary: (1) revises the December 2006 draft of specified proposed regulations to eliminate unnecessary burdens and disincentives for program participants; and (2) submits such revised draft proposed regulations to certain congressional committees for review.
 
Instructs the Secretary also to suspend immediately all filing requirements under the Previous Participation Certificate process with respect to limited liability corporate investors who own or expect to own an interest in entities which are allowed or are expected to be allowed specified low-income housing tax credits under the Internal Revenue Code.

action_date: 2007-06-15
text: 

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

Preservation Approval Process Improvement Act of 2007 - Directs the Secretary of Housing and Urban Development to suspend mandatory processing of Previous Participation Certificates under the Automated Partners Performance System and permit paper filings of such certificates until the Secretary: (1) revises the December 2006 draft of specified proposed regulations to eliminate unnecessary burdens and disincentives for program participants; and (2) submits such revised draft proposed regulations to certain congressional committees for review.

Instructs the Secretary also to suspend immediately all filing requirements under the Previous Participation Certificate process with respect to limited liability corporate investors who own or expect to own an interest in entities which are allowed or are expected to be allowed specified low-income housing tax credits under the Internal Revenue Code.


Legislative actions:
action_date: 2007-06-15
text: Became Public Law No: 110-35.
action_date: 2007-06-15
text: Became Public Law No: 110-35.
action_date: 2007-06-15
text: Signed by President.
action_date: 2007-06-15
text: Signed by President.
action_date: 2007-06-06
text: Presented to President.
action_date: 2007-06-06
text: Presented to President.
action_date: 2007-05-25
text: Message on Senate action sent to the House.
action_date: 2007-05-24
text: Cleared for White House.
action_date: 2007-05-24
text: Passed Senate without amendment by Unanimous Consent. (consideration: CR S6922)
action_date: 2007-05-24
text: Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S6922)
action_date: 2007-05-17
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 151.
action_date: 2007-05-17
text: Committee on Banking, Housing, and Urban Affairs. Reported by Senator Dodd without amendment. Without written report.
action_date: 2007-05-17
text: Committee on Banking, Housing, and Urban Affairs. Reported by Senator Dodd without amendment. Without written report.
action_date: 2007-05-16
text: Committee on Banking, Housing, and Urban Affairs. Ordered to be reported without amendment favorably.
action_date: 2007-04-25
text: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
action_date: 2007-04-24
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2007-04-24
text: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H3787)
action_date: 2007-04-24
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H3787)
action_date: 2007-04-24
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 1675.
action_date: 2007-04-24
text: Considered under suspension of the rules. (consideration: CR H3787-3788)
action_date: 2007-04-24
text: Ms. Bean moved to suspend the rules and pass the bill.
action_date: 2007-04-23
text: Placed on the Union Calendar, Calendar No. 65.
action_date: 2007-04-23
text: Reported by the Committee on Financial Services. H. Rept. 110-106.
action_date: 2007-04-23
text: Reported by the Committee on Financial Services. H. Rept. 110-106.
action_date: 2007-03-29
text: Ordered to be Reported by Voice Vote.
action_date: 2007-03-29
text: Committee Consideration and Mark-up Session Held.
action_date: 2007-03-26
text: Referred to the House Committee on Financial Services.
action_date: 2007-03-26
text: Introduced in House
action_date: 2007-03-26
text: Introduced in House

Enacted as: number: 110-35