Mortgage Subsidy Bond Tax Act, tax-exempt mortgage revenue bonds, housing finance agencies


In the 1970s, housing became increasingly unattainable for low-income single-families who were unable to afford rising housing prices. As a response, state and local housing finance agencies (HFAs) issued tax-exempt single-family mortgage bonds to finance mortgage loans. However, Congress shortly thereafter passed the Mortgage Subsidy Bond Tax Act, denying tax exclusion to such loans. This Comment examines the validity and effectiveness of selected major provisions of the Act which are unique to single-family mortgage revenue bonds, in particular the sunset provision. Ultimately, this Comment concludes that the sunset provision of the Act is unconstitutional.

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Housing Law Commons



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