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Title:
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A bill for an ordinance authorizing and approving (i) the use of an amount not to exceed $45,000,000 of Private Activity Bond Volume Cap Allocation for the purpose of making a mortgage credit certificate election; and (ii) the MCC Program Administration Agreement and the MCC Program Guidelines.
(FINANCE & SERVICES) Approves the use of approximately $45,000,000 of private activity bond volume cap allocation for Mortgage Credit Certificates (MCC) and approves the Program Administrator Agreement and the Program Summary and Guidelines for the 2015 MCC Program to provide qualified first-time homebuyers a federal tax credit of up to $2,000 per year. The Committee approved filing this bill by consent on 10-7-14.
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