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S 1318 110th Congress Senate 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 Act of 2007

Introduced: May 7, 2007 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 7, 2007
Read twice and referred to the Committee on Finance.
May 7, 2007
Introduced in Senate
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 Plain-English summary Congressional Research Service

Affordable Housing Preservation 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 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 May 7, 2007

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 1491 Related bill Affordable Housing Preservation Tax Relief Act of 2007
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2
D
Murray, Patty
Washington · May 7, 2007
 D
Reed, Jack
Rhode Island · May 7, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1318: Affordable Housing Preservation Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-S-1318/
MLA
"S. 1318: Affordable Housing Preservation Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-1318/.
Bluebook (legal)
S. 1318, 110th Cong. (2026), https://openamerica.io/bill/110-S-1318/.
Markdown link
[S. 1318: Affordable Housing Preservation Act of 2007](https://openamerica.io/bill/110-S-1318/)
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