To amend the Internal Revenue Code of 1986 to clarify the mortgage subsidy bond benefits for residences located in disaster areas.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code with respect to mortgage subsidy bond benefits for residences located in disaster areas to: (1) raise, from $15,000 to $100,000, the maximum amount allowed for a qualified home improvement loan; (2) consider, for income requirements, such a residence as if it were a targeted area residence; and (3) set forth provisions concerning purchase of a replacement home.…