To amend the Internal Revenue Code of 1986 to allow for nonrecognition...
To amend the Internal Revenue Code of 1986 to allow for nonrecognition of gain on real property sold for use as affordable housing.
This bill aims to change the tax rules for selling real estate, specifically to allow people to sell property for affordable housing without paying taxes on the profit they made. This could encourage more property owners to sell their land for housing projects that help make homes more affordable.
This change would mainly affect property owners who sell their land for affordable housing projects. By not having to pay taxes on the profit, these owners might be more willing to sell their properties to developers who plan to build affordable homes.
As of July 22, 2026, the bill has just been introduced in the House and has been sent to the House Committee on Ways and Means. This means it is still in the early stages of the legislative process and has not yet been voted on by the full House.
