US Congress House Bill 6011 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 27 2020 - 25% progression, died in committee
Action: 2020-02-27 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

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.

Affordable and Homeless Housing Incentives Act of 2020

Rep. Adam Schiff [D-CA]

Date	Chamber	Action
2020-02-27	House	Referred to the House Committee on Ways and Means.
2020-02-27	House	Introduced in House

HB4239 (Related) 2019-09-06 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/6011/all-info
Text	https://www.congress.gov/116/bills/hr6011/BILLS-116hr6011ih.pdf