The FIXER Act would amend the Internal Revenue Code to let an issuing authority irrevocably exempt certain exempt facility bonds for qualified residential rental projects from its tax-exempt bond volume cap. The exception would apply when at least 95% of net proceeds preserve, improve, or replace specified low-income, federally assisted, or state-assisted buildings; it would also change the existing-property acquisition threshold from 15% to 50% and provide an exception to a low-income housing tax credit limitation. The changes would apply to bonds issued after enactment.

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