HR 6011
Affordable and Homeless Housing Incentives Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Affordable and Homeless Housing Incentives Act of 2020, allows certain property owners to avoid paying capital gains taxes when they sell real estate to organizations that will use it for affordable housing or as a homeless shelter. Specifically, it allows for ‘nonrecognition of gain’ under certain conditions, making the sale appear as an involuntary conversion for tax purposes. The bill defines a ‘qualified housing operator’ as including state and local governments, tribal housing entities, community housing development organizations, and tax-exempt organizations that receive grants for affordable housing projects.
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