TREATMENT OF PROGRAM INCOME AND LABOR STANDARDS.

SEC. 104. TREATMENT OF PROGRAM INCOME AND LABOR STANDARDS. Section 104(a) of the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4114(a)) is amended by adding at the end the following:“(4) Exclusion from program income of regular developer’s fees for low-income housing tax credit projects.—Notwithstanding any other provision of this Act, any income derived from a regular and customary developer’s fee for any project that receives a low-income housing tax credit under section 42 of the Internal Revenue Code of 1986, and that is initially funded using a grant provided under this Act, shall not be considered to be program income if the developer’s fee is approved by the State housing credit agency.”.122 STAT. 4324