United States · Amendment · HAMDT

HAMDT 636 (101st)

An amendment to modify the provisions of the bill relating to the amount of profit low-income homeowners may retain when selling a home purchased through the Community Housing Partnership Program. The amendment would allow homeowners under the program to keep their equity plus any increase in the value of the house, less the value of the public subsidy invested in the home, provided the home has been owned for five or more years. In succeeding years, the owner would be permitted to keep incrementally more of the increased value of the home until the 10th year, when the owner would be entitled to the entire profit from the sale.

Housing