Preserving Rural Investments Act
This legislation would amend the tax code to clarify that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac are not tax-exempt controlled entities (TECEs) and, thus, are eligible for tax benefits that are not available to TECEs. This would allow Fannie Mae and Freddie Mac to invest in multi-investor Housing Credit funds without jeopardizing those benefits for other investors in the funds.
