WASHINGTON -- The Senate Appropriations Committee yesterday approved $2 billion in funding for the new federal housing affordability program, but it removed any incentives for issuing tax-exempt housing bonds under the program during fiscal 1992.

The program, popularly known as HOME, requires the federal government to match financial contributions state and local governments make to low-income housing projects. The Department of Housing and Urban Development has said it would allow general obligation bonds to count toward the match, and housing industry officials have been pushing for HUD to make private-activity bonds and revenue bonds eligible as well.

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