H.R. 6011 · 116th Congress
Affordable and Homeless Housing Incentives Act of 2020
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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.
D
SchiffSponsorNo cosponsors.
This bill allows nonrecognition of gain, for income tax purposes, from the sale of real property to a qualified housing operator for use or development by such operator as affordable housing.
What it does: CRS summary · Introduced in House · Feb 27, 2020
Affordable and Homeless Housing Incentives Act of 2020
This bill allows nonrecognition of gain, for income tax purposes, from the sale of real property to a qualified housing operator for use or development by such operator as affordable housing. The bill defines qualified housing operator to include a state or local government, a tribally designated housing entity, a community housing development organization, or a tax-exempt entity organized to provide affordable housing and which receives federal, state, or local grants to develop or operate such housing.
To be eligible for nonrecognition of gain, the seller must make the property either (1) residential rental property, not less than 75% of the units of which are affordable to low-income families; or (2) a homeless shelter.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Affordable and Homeless Housing Incentives Act of 2020
Latest action (Feb 27, 2020): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Feb 27, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.