Section-by-Section Analysis of the Affordable Housing Bond Enhancement Act
The attached document provides a section-by-section description of the Affordable Housing Bond Enhancement Act, which was introduced June 6, 2023, by Senators Catherine Cortez Masto (D-NV) and Bill Cassidy (R-LA). The legislation would enact many of NCSHA’s long-standing priorities for strengthening the Mortgage Revenue Bond (MRB) and Mortgage Credit Certificate (MCC) programs. Notable changes include increasing the MRB home improvement loan limit, allowing MRBs to be used to fund refinancing loans, providing HFAs additional flexibility in how they utilize carryforward housing bond authority, and simplifying how a borrower’s MCC benefit is calculated.
Originally published on June 22, 2022. Last updated June 6, 2023.
