Amends the Internal Revenue Code to: (1) qualify certain buildings in the Gulf Opportunity Zone, the Rita GO Zone, and the Wilma GO Zone (GO Zones) placed in service before 2011 for a full housing tax credit if such buildings receive (or received) a state or local housing credit allocation in 2006, 2007, or 2008; (2) extend through 2010 the treatment of such GO Zones as difficult development areas eligible for an increased housing tax credit; (3) exclude the receipt of certain federal assistance in determining whether GO Zone buildings eligible for the housing tax credit are federally subsidized and therefore subject to limitations on such credit; and (4) treat qualified GO Zone repair and reconstruction loans provided prior to 2011 as qualified rehabilitation loans financed by tax-exempt bonds.