Frank Adelmann Manufactured Housing Community Sustainability Act

Summary

Frank Adelmann Manufactured Housing Community Sustainability Act This bill allows a business-related tax credit equal to 75% of the gain from the sale or exchange of real property to a qualified manufactured home community cooperative or corporation if (1) the property is acquired for use as a manufactured home community, (2) the seller (or any related person) owned the property for at least two years before the sale or exchange, and (3) the property is transferred subject to a binding covenant that the property will be used as a manufactured home community for at least 50 years or the maximum term permitted under state law. A "qualified manufactured home community cooperative or corporation" is a cooperative or a nonprofit corporation established pursuant to the laws of the state in which the property is located. The bill specifies membership and governance requirements for the communities owned by the cooperative or nonprofit corporation. The bill also imposes a tax on buyers who violate the covenant to use the property for manufactured housing for at least 50 years or the maximum term permitted under state law.

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Timeline

1. 17 May 2019

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 17 May 2019

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 May 2019

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 May 2019 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 May 2019

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 May 2019

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 17 May 2019

  Open at official source

Sponsors

• Rep. Omar, Ilhan [D-MN-5] · D · Sponsor
• Barbara Lee · D · Sponsor
• Rep. Neguse, Joe [D-CO-2] · D · Sponsor
• Rep. Pocan, Mark [D-WI-2] · D · Sponsor
• Chris Pappas · D · Sponsor
• Ann Kuster · D · Sponsor
• PETER DEFAZIO · D · Sponsor
• Rep. Khanna, Ro [D-CA-17] · D · Sponsor
• Rep. Tlaib, Rashida [D-MI-12] · D · Cosponsor
• Rep. Bonamici, Suzanne [D-OR-1] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to → Frank Adelmann Manufactured Housing Community Sustainability Act