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![handle is hein.gao/gaobabdzy0001 and id is 1 raw text is:
BY ]HE U,S GENERAL ACCOUNTING OFFICE
Report To The Chairman
Committee On Finance
United States Senate
The Costs And Benefits Of Single-Family
Mortgage Revenue Bonds: Preliminary Report
GAO is in the final stages of completing a
comprehensive study on the costs and ben-
efits of mortgage revenue bonds. These tax-
exempt bonds which are issued by State and
local agencies provide subsidized loans to
first-time homebuyers. The authorityto issue
mortgage revenue bonds to finance the pur-
chase of single-family homes will expire on
December 31, 1983, unless the Congress
extends that authority.
This preliminary report, requested by the
Chairman of the Senate Committee on Fi-
nance, provides early information on GAO's
findings. The Chairman asked GAO to an-
swer questions regarding:
--the extent to which low-and moderate-
income homebuyers are assisted,
--the effectiveness of Federal purchase
price ceilings and State and locally
imposed income limits in targeting pro-
gram benefits, and
--the efficiency of mortgage revenue
bonds in general.
121244
-lco U GAO/RCED-83-145
APRIL 18, 1983](ViewImageLocal?handle=hein.gao/gaobabdzy0001&div=1&collection=&method=preview&ext=.png&size=3)