H.R. 3715 · 109th Congress

Affordable Housing Preservation Tax Relief Act of 2005

Stage
In committee
Introduced
2005-09-08
Latest action
2005-09-08 · Introduced in House

Summary

Affordable Housing Preservation Tax Relief Act of 2005 - Amends the Internal Revenue to exclude from gross income gain from the sale or exchange of certain multifamily housing property to a housing credit 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.