Randy Neugebauer: “I rise in support of H.R. 1675, the Preservation Approval Process Improvement Act of 2007... This legislation suspends…”

“I rise in support of H.R. 1675, the Preservation Approval Process Improvement Act of 2007... This legislation suspends the electronic filing requirement for the previous participation certificates and the filing requirements of these certificates for certain low-income housing investors. Form 2530 has been used for many years to ascertain the prior record of participants in certain HUD programs. This enabled HUD to refuse to do business with participants who have not previously carried out their obligations. However, passive investor disclosure requirements have created problems for private individuals and groups who wish to participate in the construction and preservation of affordable housing through the low-income housing tax credit program.”