S 3616
109th Congress
Senate
Taxation
Affordable housing
Apartment houses
Capital gains tax
Commerce
Depreciation and amortization
Housing and Community Development
Income tax
Residential rehabilitation
Tax exclusion
Affordable Housing Preservation Act of 2006
Introduced: June 29, 2006
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 29, 2006
Read twice and referred to the Committee on Finance.
Jun 29, 2006
Sponsor introductory remarks on measure. (CR S6802-6803)
Jun 29, 2006
Introduced in Senate
Plain-English summary
Affordable Housing Preservation Act of 2006 - Amends the Internal Revenue to exclude from gross income gain from the sale or exchange of certain multifamily housing property to a housing agency or related organization (preservation entity) that agrees to maintain certain affordability and use restrictions for such property. Limits the excludable amount of such gain to the depreciation adjustments for such property.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1