,,ii #aaf? ,,congress #b;d ,session ,s4 #djgh ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,june #be1 #bjbj,mr4 ,wyd5 7= himself1 ,ms4 ,cantwell1 ,mr4 ,b5net1 & ,mr4 ,c>d97 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to improve ! l[-income h\s+ cr$it & provide relief relat+ to ! coronavirus em]g5cy1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,em]g5cy ,af=dable ,h\s+ ,act ( #bjbj4 #b4 ,ext5sion ( p]iod = rehabilitation exp5ditures 7a7 ,9 g5]al ,clause 7ii7 ( section #db7;e77#c77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ 7any #cf-mon? p]iod1 9 ! case ( build+s receiv+ an allocation ( h\s+ cr$it doll> am\nt be=e ,janu>y #a1 #bjbb7 aft] #bd-mon? p]iod4 7b7 ,con=m+ am5dm5t ,subp>agraph 7,a7 ( section #db7;e77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ 7or #cf-mon? p]iod1 if applicable7 aft] #bd-mon? p]iod4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s receiv+ an allocation ( h\s+ cr$it doll> am\nt aft] ,decemb] #ca1 #bjaf4 #c4 ,ext5sion ( basis exp5diture deadl9e 7a7 ,9 g5]al ,clause 7i7 ( section #db7;h77#a77;,e7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ 7! ?ird cal5d> ye>1 9 ! case ( an allocation made be=e ,janu>y #a1 #bjbb7 aft] second cal5d> ye>4 7b7 ,qualifi$ build+ ,clause 7ii7 ( section #db7;h77#a77;,e7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by /rik+ ! date :i* is #a ye> aft] ! date t ! allocation 0 made & ins]t+ ! applicable date2 7#b7 by ins]t+ 7or ?ird1 if applicable7 aft] second 9 ! fir/ s5t5ce2 7#c7 by ins]t+ 7or ?ird7 aft] second 9 ! second s5t5ce2 7#d7 by /rik+ build+4--,= purposes ( & ins]t+ 8build+4-- 7,i7 ,9 g5]al ,= purposes ( 2 & 7#e7 by add+ at ! end ! foll[+ new subclause3 7,,ii7 ,applicable date ,= purposes ( subclause 7,i71 ! applicable date is #a ye> aft] ! date t ! allocation 0 made ) respect to ! build+ 7#b ye>s1 9 ! case ( allocations made be=e ,janu>y #a1 #bjbb74 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s receiv+ an allocation ( h\s+ cr$it doll> am\nt aft] ,decemb] #ca1 #bjaf4 #d4 ,tax-exempt bond f9anc+ requirem5t 7a7 ,9 g5]al ,subp>agraph 7,b7 ( section #db7;h77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+3 ,9 ! case ( build+s f9anc$ by an obligation issu$ 9 cal5d> ye>s end+ be=e ,janu>y #a1 #bjbb1 ! prec$+ s5t5ce %all be appli$ by sub/itut+ #be p]c5t = #ej p]c5t44 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to build+s plac$ 9 s]vice 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4 #e4 ,m9imum cr$it rate 7a7 ,9 g5]al ,subsection 7b7 ( section #db ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by r$esignat+ p>agraph 7#c7 z p>agraph 7#d72 & 7#b7 by ins]t+ aft] p>agraph 7#b7 ! foll[+ new p>agraph3 7#c7 ,m9imum cr$it rate ,9 ! case ( any new or exi/+ build+ to :i* p>agraph 7#b7 does n apply1 ! applicable p]c5tage %all n be less ?an #d p]c5t4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s :i* receive allocations ( h\s+ cr$it doll> am\nt or1 9 ! case ( projects f9anc$ by tax-exempt bonds z describ$ 9 section #db7;h77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 :i* are plac$ 9 s]vice by ! taxpay] aft] ,janu>y #bj1 #bjbj4 #f4 ,increases 9 ,/ate allocations 7a7 ,9 g5]al ,clause 7ii7 ( section #db7;h77#c77;,c7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by /rik+ #a4ge 9 subclause 7,i7 & ins]t+ #d4ef 7#c4eh 9 ! case ( cal5d> ye> #bjba72 & 7#b7 by /rik+ #b1jjj1jjj 9 subclause 7,,ii7 & ins]t+ #e1bad1jea 7#d1jig1dhf 9 ! case ( cal5d> ye> #bjba74 7b7 ,co/-(-,liv+ adju/m5t ,subp>agraph 7,h7 ( section #db7;h77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by /rik+ #bjjb 9 clause 7i7 & ins]t+ #bjbj2 7#b7 by /rik+ ! #b1jjj1jjj & #a4ge am\nts 9 subp>agraph 7,c7 9 clause 7i7 & ins]t+ ! doll> am\nts applicable to su* cal5d> ye> "u subclauses 7,i7 & 7,,ii7 ( subp>agraph 7,c77ii72 7#c7 by /rik+ #bjja 9 clause 7i77,,ii7 & ins]t+ #bjai2 7#d7 by /rik+ #b1jjj1jjj am\nt 9 clause 7ii77,i7 & ins]t+ am\nt "u subp>agraph 7,c77ii77,,ii72 & 7#e7 by /rik+ #a4ge am\nt 9 clause 7ii77,,ii7 & ins]t+ am\nt "u subp>agraph 7,c77ii77,i74 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> ye>s beg9n+ aft] ,decemb] #ca1 #bjbj4 #g4 ,increase 9 cr$it = c]ta9 projects designat$ to s]ve extremely l[-income h\seholds 7a7 ,9 g5]al ,p>agraph 7#e7 ( section #db7;d7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,c7 ,increase 9 cr$it = projects designat$ to s]ve extremely l[-income h\seholds ,9 ! case ( any build+-- 7i7 #bj p]c5t or m ( ! resid5tial units 9 :i* are r5t-re/rict$ 7det]m9$ z if ! imput$ income limitation applicable to su* units 7 #cj p]c5t ( area m$ian gross income7 & are designat$ by ! taxpay] = occupancy by h\seholds ! aggregate h\sehold income ( :i* does n exce$ ! great] (-- 7,i7 #cj p]c5t ( area m$ian gross income1 or 7,,ii7 #ajj p]c5t ( an am\nt equal to ! ,f$]al pov]ty l9e 7)9 ! mean+ ( section #cf;,b7d77#c771 & 7ii7 :i* is designat$ by ! h\s+ cr$it ag5cy z requir+ ! increase 9 cr$it "u ?is subp>agraph 9 ord] = su* build+ to be f9ancially feasible z "p ( a qualifi$ l[-income h\s+ project1 subp>agraph 7,b7 %all n apply to ! portion ( su* build+ :i* is compris$ ( su* units1 & ! eligible basis ( su* portion ( ! build+ %all be #aej p]c5t ( su* basis det]m9$ )\t reg>d to ?is subp>agraph4 4 7b7 ,res]v$ ,/ate allocation ,subp>agraph 7,c7 ( section #db7;h77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by /rik+ plus at ! end ( clause 7iii72 7#b7 by /rik+ ! p]iod at ! end ( clause 7iv7 & ins]t+ 1 plus2 7#c7 by ins]t+ aft] clause 7iv7 ! foll[+ new clause3 7v7 an am\nt equal to #aj p]c5t ( ! sum ( ! am\nts det]m9$ "u clauses 7i71 7ii71 7iii71 & 7iv7 7if any74 2 & 7#d7 by add+ at ! end ! foll[+3 ,any am\nt allocat$ pursuant to clause 7v7 %all be acc\nt$ = sep>ately & %all be allocat$ only to build+s to :i* subsection 7d77#e77;,c7 applies44 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s :i* receive allocations ( h\s+ cr$it doll> am\nt or1 9 ! case ( projects f9anc$ by tax-exempt bonds z describ$ 9 section #db7;h77#d7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 :i* receive a det]m9ation ( h\s+ cr$it doll> am\nt1 aft] ! date ( ! enactm5t ( ?is ,act4 #h4 ,inclusion ( ,indian areas z difficult developm5t areas = purposes ( c]ta9 build+s 7a7 ,9 g5]al ,subclause 7,i7 ( section #db7;d77#e77;,b77iii7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ be=e ! p]iod ! foll[+3 1 & any ,indian area4 7b7 ,indian area ,clause 7iii7 ( section #db7;d77#e77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by r$esignat+ subclause 7,,ii7 z subclause 7,,iv7 & by ins]t+ aft] subclause 7,i7 ! foll[+ new subclauses3 7,,ii7 ,indian area ,= purposes ( subclause 7,i71 ! t]m ,indian area means any ,indian area 7z def9$ 9 section #d7aa7 ( ! ,native ,am]ican ,h\s+ ,assi/ance & ,self ,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #dajc7aa7774 7,,iii7 ,special rule = build+s 9 ,indian areas ,9 ! case ( an area :i* is a difficult developm5t area solely because x is an ,indian area1 a build+ %all n be treat$ z locat$ 9 su* area unless su* build+ is assi/$ or f9anc$ "u ! ,native ,am]ican ,h\s+ ,assi/ance & ,self ,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #daja et seq47 or ! project sponsor is an ,indian tribe 7z def9$ 9 section #de;,a7c77#f771 a tribally designat$ h\s+ entity 7z def9$ 9 section #d7bb7 ( su* ,act 7#be ,u4,s4,c4 #dajc7bb7771 or :olly own$ or controll$ by su* an ,indian tribe or tribally designat$ h\s+ entity4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s plac$ 9 s]vice aft] ,decemb] #ca1 #bjai4 #i4 ,inclusion ( rural areas z difficult developm5t areas 7a7 ,9 g5]al ,subclause 7,i7 ( section #db7;d77#e77;,b77iii7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by section #h1 is am5d$ by ins]t+ 1 any rural area aft] m$ian gross income4 7b7 ,rural area ,clause 7iii7 ( section #db7;d77#e77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by section #h1 is fur!r am5d$ by r$esignat+ subclause 7,,iv7 z subclause 7,v7 & by ins]t+ aft] subclause 7,,iii7 ! foll[+ new subclause3 7,,iv7 ,rural area ,= purposes ( subclause 7,i71 ! t]m rural area means any non-metropolitan area1 or any rural area z def9$ by section #ebj ( ! ,h\s+ ,act ( #aidi1 :i* is id5tifi$ by ! qualifi$ allocation plan "u subsection 7m77#a77;,b74 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s plac$ 9 s]vice aft] ,decemb] #ca1 #bjai4 #aj4 ,increase 9 cr$it = bond-f9anc$ projects designat$ by h\s+ cr$it ag5cy 7a7 ,9 g5]al ,clause 7v7 ( section #db7;d77#e77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ ! second s5t5ce4 7b7 ,te*nical am5dm5t ,clause 7v7 ( section #db7;d77#e77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by subsection 7a71 is fur!r am5d$-- 7#a7 by /rik+ ,/ate 9 ! head+2 & 7#b7 by /rik+ ,/ate h\s+ cr$it ag5cy & ins]t+ h\s+ cr$it ag5cy4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s :i* receive a det]m9ation ( h\s+ cr$it doll> am\nt aft] ! date ( ! enactm5t ( ?is ,act4 #aa4 ,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$it doll> am\nt be=e ,janu>y #a1 #bjbj1 or 7,,ii7 9 ! case ( a build+ any portion ( :i* is f9anc$ z describ$ 9 p>agraph 7#d71 :i* receiv$ be=e ,janu>y #a1 #bjbj1 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 #ab4 ,prohibition ( local approval & contribution requirem5ts 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #db7m7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 by /rik+ clause 7ii7 ( subp>agraph 7,a7 & by r$esignat+ clauses 7iii7 & 7iv7 !re( z clauses 7ii7 & 7iii72 & 7#b7 by add+ at ! end ! foll[+ new subp>agraph3 7,e7 ,local approval or contribution n tak5 into acc\nt ,! selection crit]ia "u a qualifi$ allocation plan %all n include consid]ation (-- 7i7 any support or opposition ) respect to ! project f local or elect$ (ficials1 or 7ii7 any local gov]nm5t contribution to ! project1 except to ! ext5t su* contribution is tak5 into acc\nt z "p ( a broad] consid]ation ( ! project's ability to lev]age outside fund+ s\rces1 & is n prioritiz$ ov] any o!r s\rce ( outside fund+4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to allocations ( h\s+ cr$it doll> am\nts made aft] ,decemb] #ca1 #bjbj4 #ac4 ,adju/m5t ( cr$it to provide relief dur+ ,,covid-#ai outbreak 7a7 ,9 g5]al ,at ! election ( a taxpay] :o is an own] ( an eligible l[-income build+-- 7#a7 ! cr$it det]m9$ "u section #db ( ! ,int]nal ,rev5ue ,code ( #aihf = ! fir/ or second taxable ye> ( su* build+'s cr$it p]iod end+ on or aft] ,july #a1 #bjbj1 %all be #aej p]c5t ( ! am\nt :i* w\ld 7b = ?is subsection7 be s all[able ) respect to su* build+ = su* taxable ye>2 & 7#b7 ! aggregate cr$its all[able "u su* section ) respect to su* build+ %all be r$uc$1 on a pro rata basis = ea* subsequ5t taxable ye> 9 ! cr$it p]iod1 by ! increase 9 ! cr$it all[$ by reason ( p>agraph 7#a7 ) respect to su* fir/ or second taxable ye>4 ,! prec$+ s5t5ce %all n be con/ru$ to affect :e!r any taxable ye> is "p ( ! cr$it1 compliance1 or ext5d$ use p]iods = purposes ( su* section #db4 7b7 ,eligible l[-,income build+ ,= purposes ( ?is section1 ! t]m eligible l[-income build+ means a qualifi$ l[-income build+ ) respect to :i*-- 7#a7 ! fir/ ye> 9 ! cr$it p]iod ends on or aft] ,july #a1 #bjbj1 & be=e ,july #a1 #bjbb2 & 7#b7 con/ruction or leas+ delays h occurr$ aft] ,janu>y #ca1 #bjbj1 due to ! outbreak ( coronavirus disease #bjai 7,,covid-#ai7 9 ! ,unit$ ,/ates4 7c7 ,election 7#a7 ,9 g5]al ,! election "u subsection 7a7 %all be made at su* "t & 9 su* mann] z %all be prescrib$ by ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 &1 once made1 %all be irrevocable by ! taxpay] & any successor 9 own]%ip4 7#b7 ,p>tn]%ips ,9 ! case ( an eligible l[-income build+ own$ by a p>tn]%ip or ,s corporation1 su* election %all be made at ! entity level4 7#c7 ,c]tification ,an own] mak+ su* election %all provide to ! h\s+ cr$it ag5cy1 at ! same "t & 9 addition to su* o!r in=mation z may be requir$ "u section #db7l77#a7 ( ! ,int]nal ,rev5ue ,code ( #aihf ) respect to ! build+1 a c]tification t ! purpose ( mak+ su* election is to (fset any r$uctions 9 capital or additional co/s aris+ by reason ( ! outbreak ( coronavirus disease #bjai 7,,covid-#ai7 9 ! ,unit$ ,/ates4 ,su* c]tification %all include any docum5tation :i* ! h\s+ cr$it ag5cy may reque/4 7d7 ,def9itions ,any t]m us$ 9 ?is section :i* is also us$ 9 section #db ( ! ,int]nal ,rev5ue ,code ( #aihf %all h ! same mean+ z :5 us$ 9 su* section4 #ad4 ,cr$it = l[-income h\s+ supportive s]vices 7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] section #db ! foll[+ new section3 #db;,a4 ,cr$it = contributions to l[-income h\s+ supportive s]vices 7a7 ,9 g5]al ,= purposes ( section #ch1 ! am\nt ( ! l[-income h\s+ supportive s]vices cr$it det]m9$ "u ?is section = ! applicable taxable ye> is an am\nt equal to #be p]c5t ( ! qualifi$ supportive h\s+ contribution made by ! taxpay]4 7b7 ,qualifi$ supportive h\s+ contribution ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ supportive h\s+ contribution means ! total am\nt contribut$ 9 ca% by ! taxpay] to a qualifi$ supportive h\s+ res]ve fund ) respect to a qualifi$ l[-income build+1 det]m9$ z ( ! date ! build+ is plac$ 9 s]vice4 7#b7 ,qualifi$ supportive h\s+ res]ve fund ,! t]m qualifi$ supportive h\s+ res]ve fund means1 ) respect to any qualifi$ l[-income build+1 a sep>ate fund res]v$ exclusively = paym5t = qualifi$ supportive s]vices provid$ to t5ants ( ! build+ pursuant to an ext5d$ supportive s]vices commitm5t4 ,! own] ( su* build+ %all designate an adm9i/rator to sep>ately acc\nt = ! am\nts 9 ! fund 9 su* mann] z ! ,secret>y may prescribe4 7#c7 ,limitations 7,a7 ,9 g5]al ,no am\nt attributable to any gov]nm5tal grant1 includ+ grants provid$ by ! gov]nm5t ( any ,/ate1 possession1 tribe1 or locality1 %all be tak5 into acc\nt "u p>agraph 7#a74 7,b7 ,doll> limitation ,! total qualifi$ supportive h\s+ contributions tak5 into acc\nt "u ?is section ) respect to any qualifi$ l[-income build+ %all n exce$-- 7i7 #abj1jjj1 multipli$ by 7ii7 ! numb] ( l[-income units 9 ! build+ :i* are occupi$ at ! close ( ! applicable taxable ye>4 7c7 ,applicable taxable ye> ,= purposes ( ?is section1 ! t]m applicable taxable ye> means ! fir/ taxable ye> 9 ! cr$it p]iod ) respect to ! qualifi$ l[-income build+ describ$ 9 subsection 7b77#a74 7d7 ,qualifi$ supportive s]vices ,= purposes ( ?is section1 ! t]m qualifi$ supportive s]vices means s]vices-- 7#a7 provid$ by ! own] ( a qualifi$ l[-income build+ 7directly or ?r\gh contracts ) a ?ird p>ty s]vice provid]7 to t5ants ( ! build+1 7#b7 :i* include heal? s]vices 7includ+ m5tal heal? s]vices71 coord9ation ( t5ant b5efits1 job tra9+1 f9ancial c\nsel+1 resid5t engagem5t s]vices1 or s]vices ! pr9cipal purpose ( :i* is to help t5ants reta9 p]man5t h\s+1 or su* o!r s]vices z ! ,secret>y may by regulation provide1 7#c7 :i* are provid$ at no co/ to t5ants1 & 7#d7 usage ( or p>ticipation 9 :i* is n requir$ = t5ants4 ,su* t]m includes reasonable & necess>y measures = ! provision ( su* s]vices1 includ+ measures to engage t5ants 9 & coord9ate su* s]vices & measures requir$ to obta9 ! c]tification describ$ 9 subsection 7e77#d74 7e7 ,ext5d$ supportive s]vices commitm5t ,! t]m ext5d$ supportive s]vices commitm5t means any agreem5t betwe5 ! own] ( a qualifi$ l[-income build+ & ! h\s+ cr$it ag5cy :i*-- 7#a7 requires t am\nts 9 a qualifi$ supportive h\s+ res]ve fund are sp5t exclusively on ! provision ( qualifi$ supportive s]vices to t5ants ( su* build+1 7#b7 requires t ! am\nts 9 su* fund be sp5t entirely dur+ ! ext5d$ use p]iod1 & provides = ! mann] 9 :i* su* sp5d+ w be di/ribut$ across su* p]iod1 7#c7 requires ! designation ( "o or m individuals to engage t5ants reg>d+ & coord9ate deliv]y ( qualifi$ supportive s]vices1 7#d7 requires ! ma9t5ance ( an appropriate c]tification1 z det]m9$ by ! ,secret>y 9 consultation ) ! h\s+ cr$it ag5cies1 = qualifi$ supportive s]vices1 subject to rec]tification at lea/ once e #e ye>s1 7#e7 requires appropriate annual report+ to ! h\s+ cr$it ag5cy on exp5ditures & outcomes1 z det]m9$ by su* ag5cy1 & 7#f7 is b9d+ on all successors 9 own]%ip ( su* build+4 7f7 ,recapture ( qualifi$ supportive h\s+ res]ve am\nts 7#a7 ,9 g5]al ,if ! own] ( a qualifi$ l[-income build+ is det]m9$ to be noncompliant ) ! ext5d$ supportive s]vices commitm5t or ext5d$ l[-income h\s+ commitm5t ) respect to su* build+1 any rema9+ am\nts 9 ! qualifi$ supportive h\s+ res]ve fund ) respect to su* build+ %all be transf]r$ to ! h\s+ cr$it ag5cy4 7#b7 ,use ( repaym5ts ,a h\s+ cr$it ag5cy %all use any am\nt receiv$ pursuant to p>agraph 7#a7 only = purposes ( qualifi$ l[-income build+s4 7g7 ,special rules 7#a7 ,9 g5]al ,not)/&+ any o!r provision ( ?is section1 no cr$it %all be all[$ "u ?is section = any taxable ye> ) respect to any qualifi$ l[-income build+ unless-- 7,a7 ! build+ has receiv$ an allocation ( ! l[-income h\s+ cr$it "u section #db by a h\s+ cr$it ag5cy :i* is approv$ by ! gov]nm5tal unit 79 accordance ) rules simil> to ! rules ( section #adg7;f77#b7 7o!r ?an subp>agraph 7,b77ii7 !re(77 ( :i* su* ag5cy is a "p1 7,b7 ! h\s+ cr$it ag5cy sets =? selection crit]ia to det]m9e appropriate1 evid5ce-bas$ supportive s]vices & provides a proc$ure t ! ag5cy 7or an ag5t or o!r private contractor ( su* ag5cy7 w foll[ 9 monitor+ = noncompliance ) ! provisions ( ?is section & 9 report+ su* noncompliance to ! ,secret>y1 7,c7 an ext5d$ l[-income h\s+ commitm5t is 9 effect ) respect to su* build+ z ( ! end ( su* taxable ye>1 7,d7 an ext5d$ supportive s]vices commitm5t is 9 effect ) respect to su* build+ z ( ! end ( su* taxable ye>1 & 7,e7 appropriate books & records = itemiz$ exp5ses & exp5ditures ) respect to ! qualifi$ supportive h\s+ res]ve fund are ma9ta9$ on an annual basis1 & are available = inspection ^u reque/ by ! h\s+ cr$it ag5cy4 7#b7 ,d5ial ( d\ble b5efit ,! d$uctions o!rwise all[$ "u ?is *apt] = ! taxable ye> %all be r$uc$ by ! am\nt ( ! cr$it all[$ "u ?is section = su* taxable ye>4 7h7 ,def9itions ,any t]m us$ 9 ?is section :i* is also us$ 9 section #db %all h ! same mean+ z :5 us$ 9 su* section4 4 7b7 ,cr$it ,to be "p ( g5]al bus9ess cr$it 7#a7 ,9 g5]al ,section #ch7;b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ plus at ! end ( p>agraph 7#cb71 by /rik+ ! p]iod at ! end ( p>agraph 7#cc7 & ins]t+ 1 plus1 & by add+ at ! end ! foll[+ new p>agraph3 7#cd7 ! l[-income h\s+ supportive s]vices cr$it det]m9$ "u section #db;,a7a74 4 7#b7 ,treatm5t z specifi$ cr$it ,clause 7iii7 ( section #ch7;c77#d77;,b7 ( su* ,code is am5d$ by ins]t+ 1 & ! cr$it det]m9$ "u section #db;,a aft] #bjjg4 7c7 ,treatm5t = purposes ( tax on base erosion paym5ts ,p>agraph 7#d7 ( section #ei;,a7b7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by r$esignat+ subp>agraphs 7,b7 & 7,c7 z subp>agraphs 7,c7 & 7,d71 respectively1 & by ins]t+ aft] subp>agraph 7,a7 ! foll[+ new subp>agraph3 7,b7 ! l[-income h\s+ supportive s]vices cr$it det]m9$ "u section #db;,a7a71 4 7d7 ,passive activity cr$its 7#a7 ,9 g5]al ,section #dfi ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ #db ea* place x appe>s 9 subsections 7i77#c77;,c71 7i77#f77;,b77i71 & 7k77#a7 & ins]t+ #db or #db;,a4 7#b7 ,con=m+ am5dm5ts ,! head+s ( subsections 7i77#c77;,c7 & 7i77#f77;,b7 ( section #dfi ( su* ,code are ea* am5d$ by /rik+ cr$it & ins]t+ cr$its4 7e7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] ! item relat+ to section #db ! foll[+ new item3 ,sec4 #db;,a4 ,cr$it = contributions to l[-income h\s+ supportive s]vices4 4 7f7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s plac$ 9 s]vice aft] ,decemb] #ca1 #bjbj4