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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Frank Adelmann Manufactured Housing Community Sustainability Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to allow a business credit for gain from the sale of real property for use as a manufactured home community, and for other purposes.


Actions Overview (1)

Date
05/17/2019Introduced in House

All Actions (2)

Date
05/17/2019Referred to the House Committee on Ways and Means.
Action By: House of Representatives
05/17/2019Introduced in House
Action By: House of Representatives

Cosponsors (9)


Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means05/17/2019 Referred to

As of 11/20/2019 no related bill information has been received for H.R.2832 - Frank Adelmann Manufactured Housing Community Sustainability Act


Subjects (3)


Latest Summary (1)

There is one summary for H.R.2832. View summaries

Shown Here:
Introduced in House (05/17/2019)

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.