This page contains bill sponsorships in the Senate and House.
Bill sponsorships indicate the topics that legislators are most interested in, and spend the most time on.
Bill Sponsorship: the Community Development Homeownership Tax Credit Act
Source: Bill sponsored by 45 Senators
Amends the Internal Revenue Code to permit a community homeownership tax credit based upon an applicable percentage of each qualified residence's eligible basis. Makes such credit available to residences (including factory built homes) located:
in a census tract with a median gross income not exceeding 80 percent of the greater area or statewide median gross income;
in a rural area;
on an Indian reservation; or
in an area of chronic economic distress.
Prohibits a buyer's income from exceeding 80 percent (70 percent for families of less than three) of the area gross median income and requires owner occupancy.
Topic: Welfare & Poverty
Headline: Tax credits to promote home ownership in distressed areas
E-mail us at:submit at OnTheIssues.org (Editorial staff, for news and corrections)
Business information (Dr. Naomi Lichtenberg, for partnerships and advertising)
Political information (Jesse Gordon, for content and technical matters)
About Us (We report about campaigns; please don't write us if you want to reach any campaign!)
