Federal Housing Trust Fund Act of 1995

Summary

TABLE OF CONTENTS: Title I: Reduction of Certain Tax Benefits for Higher Income Taxpayers and Establishment of Housing Trust Fund Title II: Administration of Housing Trust Fund and Entitlement Program for Formula Grants for Affordable Housing Federal Housing Trust Fund Act of 1995 - Title I: Reduction of Certain Tax Benefits for Higher Income Taxpayers and Establishment of Housing Trust Fund - Amends the Internal Revenue Code to: (1) limit mortgage interest and property tax deductions for taxpayers whose adjusted gross income exceeds $75,000; (2) treat property acquired from a decedent as property acquired by gift for purposes of basis determinations; (3) phase in capital gains tax on inherited property; and (4) create in the Treasury the Housing Trust Fund (Fund). Title II: Administration of Housing Trust Fund and Entitlement Program for Formula Grants for Affordable Housing - Directs the Secretary of Housing and Urban Development to make affordable housing grants from the Fund to qualifying entities. Requires such entities to carry out housing costs and housing supply assistance programs. Establishes a Housing Trust Fund Advisory Committee. Amends the Department of Housing and Urban Development Act to establish in the Department of Housing and Urban Development a position of Administrator of the Housing Trust Fund.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 22 February 1995

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 22 February 1995

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 22 February 1995

   Introduced

   Sponsor introductory remarks on measure. (CR E405-406)

   Source: IntroReferral

4. 22 February 1995

   Introduced

   Introduced in House

   Source: IntroReferral

5. 22 February 1995

   Introduced

   Introduced in House

   Source: IntroReferral

6. 10 March 1995

   Referred

   Referred to the Subcommittee on Housing and Community Opportunity.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 22 February 1995 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 February 1995

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 22 February 1995

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 22 February 1995

  Open at official source

Sponsors

• Rep. Owens, Major R. [D-NY-12] · D · Sponsor
• Rep. Hinchey, Maurice D. [D-NY-22] · D · Sponsor
• Rep. McDermott, Jim [D-WA-7] · D · Sponsor
• Rep. Velázquez, Nydia M. [D-NY-7] · D · Sponsor
• Rep. Ford, Harold E. [D-TN-8] · D · Sponsor
• · hsba00 · Standing
• · hswm00 · Standing

Related records

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