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- S.1318
S.1318: Affordable Housing Preservation Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced May 7, 2007
- Latest Major Action May 7, 2007
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
7 (5 Democrats, 3 Republicans)
Bill Summary
Affordable Housing Preservation Act of 2007 - Amends the Internal Revenue to exclude from gross income gain from the sale or exchange of certain multifamily housing property to a housing agency or related organization (preservation entity) that agrees to maintain certain affordability and use restrictions for such property. Limits the excludable amount of such gain to the depreciation adjustments for such property.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Read twice and referred to the Committee on Finance.
|
|
| May 7, 2007 |
Introduced in the Senate by Charles E. Schumer (D-N.Y.) |