,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #aief  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #be1 #bjai ,mr4  
,wyd5 7= himself1 ,mr4 ,"y1 ,mr4 ,c>d91 
& ,mr4 ,br[n7 introduc$ ! foll[+ bill2  
:i* 0 read twice & ref]r$ to !          
,committee on ,f9ance  ,a ,,bill  ,to   
am5d ! ,int]nal ,rev5ue ,code ( #aihf to
 repeal ! qualifi$ contract exception to
 ! ext5d$ l[-income h\s+ commitm5t rules
 = purposes ( ! l[-income h\s+ cr$it1 & 
= o!r purposes4  #a4 ,%ort title ,?is   
,act may be cit$ z ! ,save ,af=dable    
,h\s+ ,act ( #bjai4  #b4 ,repeal (      
qualifi$ contract option  7a7 ,t]m9ation
 ( option = c]ta9 build+s  7#a7 ,9 g5]al
 ,subclause 7,,ii7 ( section            
#db7;h77#f77;,e77i7 ( ! ,int]nal ,rev5ue
 ,code ( #aihf is am5d$ by ins]t+ 9 !   
case ( a build+ describ$ 9 clause 7iii71
 be=e on ! la/ day4  7#b7 ,build+s      
describ$ ,subp>agraph 7,e7 ( section    
#db7;h77#f7 ( su* ,code is am5d$ by add+
 at ! end ! foll[+ new clause3  7iii7   
,build+s describ$ ,a build+ describ$ 9  

?is clause is a build+-- 7,i7 :i*       
receiv$ its allocation ( h\s+ cr$it     
doll> am\nt be=e ,janu>y #a1 #bjai1 or  
7,,ii7 9 ! case ( a build+ any portion (
 :i* is f9anc$ z describ$ 9 p>agraph    
7#d71 :i* receiv$ be=e ,janu>y #a1      
#bjai1 a det]m9ation f ! issu] ( !      
tax-exempt bonds or ! h\s+ cr$it ag5cy t
 ! build+ is eligible to receive an     
allocation ( h\s+ cr$it doll> am\nt "u !
 rules ( p>agraphs 7#a7 & 7#b7 (        
subsection 7m74  4  7b7 ,rules relat+ to
 exi/+ projects ,subp>agraph 7,f7 (     
section #db7;h77#f7 ( ! ,int]nal ,rev5ue
 ,code ( #aihf is am5d$ by /rik+ !      
nonl[-income portion & all t foll[s &   
ins]t+ ! nonl[-income portion & !       
l[-income portion ( ! build+ = fair     
m>ket value 7det]m9$ by ! h\s+ cr$it    
ag5cy by tak+ into acc\nt ! r5t         
re/rictions requir$ = ! l[-income       
portion ( ! build+ to cont9ue to meet ! 
/&>ds ( p>agraphs 7#a7 & 7#b7 (         
subsection 7g774 ,! ,secret>y %all      
prescribe su* regulations z may be      

necess>y or appropriate to c>ry out ?is 
p>agraph44  7c7 ,con=m+ am5dm5ts  7#a7  
,p>agraph 7#f7 ( section #db7;h7 ( !    
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ subp>agraph 7,g7 & by          
r$esignat+ subp>agraphs 7,h71 7,i71     
7,j71 & 7,k7 z subp>agraphs 7,g71 7,h71 
7,i71 & 7,j71 respectively4  7#b7       
,subclause 7,,ii7 ( section             
#db7;h77#f77;,e77i7 ( su* ,code1 z am5d$
 by subsection 7a71 is fur!r am5d$ by   
/rik+ subp>agraph 7,i7 & ins]t+         
subp>agraph 7,h74  7d7 ,te*nical am5dm5t
 ,subp>agraph 7,i7 ( section #db7;h77#f7
 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z  
r$esignat$ by subsection 7c71 is am5d$  
by /rik+ agreem5t & ins]t+ commitm5t4   
7e7 ,effective date ,! am5dm5ts made by 
?is section %all apply to build+s )     
respect to :i* a writt5 reque/ describ$ 
9 section #db7;h77#f77;,h7 ( ! ,int]nal 
,rev5ue ,code ( #aihf is submitt$ aft] !
 date ( ! enactm5t ( ?is ,act4