9 years and inserting 5 years . (2) Section 143(m)(7)(B)(ii) is amended by striking 9-year period and inserting 5-year period . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2024. 7. Modifying calculation of credit for interest paid on certified indebtedness (a) In general Section 25 is amended— (1) in subsection (a)— (A) in paragraph (1), by striking subparagraph (B) and inserting the following: (B) the certified indebtedness amount on which interest was paid or accrued by the taxpayer during the taxable year. , and (B) in paragraph (2)— (i) in the heading, by striking where credit rate exceeds 20 percent , and (ii) in subparagraph (A), by striking If the certificate credit rate exceeds 20 percent, the and inserting The , and (2) in subsection (d)— (A) by striking paragraph (1) and inserting the following: (1) In general (A) Certificate credit rate The certificate credit rate specified in any mortgage credit certificate shall not be less than 1 percent or more than 5 percent. (B) Annual rate With respect to any mortgage credit certificate, the issuing authority may elect to specify a different annual certificate credit rate for each year of the term of the mortgage. , and (B) in paragraph (2)— (i) in the heading, by striking certificate credit rates and inserting amount of credit certificates , and (ii) in subparagraph (A)(ii), by inserting average annual before certificate credit rate . (b) Effective date The amendments made by this section shall apply to mortgage credit certificates issued on or after the first day of the second calendar year that begins after the date of the enactment of this Act. 8. Extension of period for mortgage credit certificate to be in effect (a) In general Section 25(e)(3)(B) is amended by striking second and inserting fourth . (b) Effective date The amendments made by this section shall apply to mortgage credit certificates with respect to which the limitation under section 25(d)(2)(A) of the Internal Revenue Code