H.R. 3812 · 111th Congress
Distressed Communities Reinvestment Act of 2009
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
KosmasSponsor1 cosponsor · 1 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Distressed Communities Reinvestment Act of 2009 - Amends the Internal Revenue Code to exclude from gross income gain from the sale of real property consisting predominantly of commercial and residential property located in a distressed community.
What it does: CRS summary · Introduced in House · Oct 14, 2009
Distressed Communities Reinvestment Act of 2009 - Amends the Internal Revenue Code to exclude from gross income gain from the sale of real property consisting predominantly of commercial and residential property located in a distressed community. Defines "distressed community" as a county designated by the Secretary of the Treasury as: (1) having, during a specified period, a residential or commercial mortgage foreclosure rate of 110% or more of the national average, a decline in the average fair market value of housing of at least 20%, or an unemployment rate of 110% or more of the national average; (2) having more than 50% of its housing loans with a loan-to-value ratio of greater than 80%; or (3) being in a disaster area.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Distressed Communities Reinvestment Act of 2009
Latest action (Oct 14, 2009): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Oct 14, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.