H.R. 2832 · 116th Congress
Frank Adelmann Manufactured Housing Community Sustainability Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
9 cosponsors · 9 D
7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Frank Adelmann Manufactured Housing Community Sustainability Act
What it does: CRS summary · Introduced in House · May 17, 2019
Frank Adelmann Manufactured Housing Community Sustainability Act
This bill allows a business-related tax credit equal to 75% of the gain from the sale or exchange of real property to a qualified manufactured home community cooperative or corporation if (1) the property is acquired for use as a manufactured home community, (2) the seller (or any related person) owned the property for at least two years before the sale or exchange, and (3) the property is transferred subject to a binding covenant that the property will be used as a manufactured home community for at least 50 years or the maximum term permitted under state law.
A "qualified manufactured home community cooperative or corporation" is a cooperative or a nonprofit corporation established pursuant to the laws of the state in which the property is located. The bill specifies membership and governance requirements for the communities owned by the cooperative or nonprofit corporation.
The bill also imposes a tax on buyers who violate the covenant to use the property for manufactured housing for at least 50 years or the maximum term permitted under state law.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Frank Adelmann Manufactured Housing Community Sustainability Act
Latest action (May 17, 2019): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: May 17, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.