Affordable Housing Incentives Act

This bill changes federal tax law so that people who sell real property to certain affordable housing providers can delay paying tax on their gain, by treating the sale like an involuntary conversion. Eligible buyers include state, tribal, and local governments, public housing agencies, tribal housing entities, community housing development organizations, and certain affordable housing groups. The property must carry a binding legal restriction keeping it as affordable rental housing or a homeless shelter for 30 years, and the sale price cannot exceed a qualified appraisal. The seller must notify the Treasury within 90 days, and the Treasury must check compliance at least every 5 years and enforce the rules through audits. The change applies to sales after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Scott H. Peters Democrat sponsor
• 1 cosponsors