FIXER Act

Daniel S. Goldman

Democrat · NY · Representative

Source: Congress.gov · FEC

• Nicole Malliotakis (R-NY-11)Original· 2026-07-23

Referred to the House Committee on Ways and Means.

2026-07-23

Source: Congress.gov

The proposal would allow states and local governments to issue more tax-exempt bonds to finance affordable housing projects without counting against their usual borrowing limits, making it cheaper for developers to build rental apartments for lower-income residents. Tax-exempt bonds let investors avoid paying federal taxes on the interest they earn, which reduces the interest rates developers have to pay, ultimately lowering construction costs for affordable housing. This change would primarily benefit housing developers, investors in municipal bonds, and people seeking affordable rental housing in their communities.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9906 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9906 To amend the Internal Revenue Code of 1986 to provide an elective exception from the volume cap on tax-exempt bonds for certain exempt facility bonds for qualified residential rental projects, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 23, 2026 Mr. Goldman of New York (for himself and Ms. Malliotakis) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to provide an elective exception from the volume cap on tax-exempt bonds for certain exempt facility bonds for qualified residential rental projects, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Federal Investment Exception for Essential Rehabilitation Act'' or the ``FIXER Act''. SEC. 2. ELECTIVE EXCEPTION FROM VOLUME CAP ON TAX-EXEMPT BONDS FOR CERTAIN EXEMPT FACILITY BONDS FOR QUALIFIED RESIDENTIAL RENTAL PROJECTS. (a) Elective Exception From Volume Cap on Tax-Exempt Bonds.-- Section 146 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: ``(o) Elective Exception for Certain Exempt Facility Bonds for Qualified Residential Rental Projects.-- ``(1) In general.--An issuing authority may elect (at such time and in such manner as the Secretary may prescribe) to exempt any bond described in paragraph (2) from such authority's volume cap. ``(2) Bond described.--A bond described in this paragraph is any exempt facility bond issued as part of an issue described in section 142(a)(7) if 95 percent or more of the net proceeds of the issue are used to preserve, improve, or replace-- ``(A) any qualified low-income building (as defined in section 42(c)(2)) the compliance period (as defined in section 42(i)(1)) for which has closed, but the extended use period (as defined in section 42(h)(6)(D)) for which has not closed, before the issue date of such issue, ``(B) any federally assisted building (as defined in section 42(d)(6)(C)(i)), or ``(C) any State-assisted building (as defined in section 42(d)(6)(C)(ii)). ``(3) Modified application of exception to prohibition on acquisition of existing property.--In the case of any bond exempted under paragraph (1), section 147(d) shall be applied by substituting `50 percent' for `15 percent' both places it appears. ``(4) Duration of election.--Any election under this subsection, once made, shall be irrevocable.''. (b) Exception From Low-Income Housing Tax Credit Limitation.-- Section 42(h)(4) of such Code is amended by adding at the end the following new subparagraph: ``(C) Exception for certain bonds exempt from volume cap.--The requirement of subparagraph (A)(i) shall be treated as met with respect to any obligation which would, but for an election made under section 146(o), be taken into account under section 146.''. (c) Effective Date.--The amendments made by this section shall apply to bonds issued after the date of the enactment of this Act. <all>

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