HR 1491
110th Congress
House
Taxation
Affordable housing
Apartment houses
Capital gains tax
Commerce
Depreciation and amortization
Housing and Community Development
Income tax
Residential rehabilitation
Tax exclusion
Tax rates
Affordable Housing Preservation Tax Relief Act of 2007
Introduced: March 13, 2007
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 13, 2007
Referred to the House Committee on Ways and Means.
Mar 13, 2007
Introduced in House
Plain-English summary
Affordable Housing Preservation Tax Relief Act of 2007 - Amends the Internal Revenue to exclude from gross income gain from the sale or exchange of certain multifamily housing property to a housing credit 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
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1