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Fair Tax Treatment for Manufactured Housing Community Cooperatives Act

H.R. 3399 · 115th Congress · Jul 26, 2017 · Lineage

A BILL

To amend the Internal Revenue Code of 1986 to allow a deduction for interest and taxes relating to land used for dwelling purposes owned or leased by cooperative housing corporations.

Section 1 Short title

This Act may be cited as the “Fair Tax Treatment for Manufactured Housing Community Cooperatives Act”.

Sec. 2 Deduction allowed for interest and taxes relating to land used for dwelling purposes owned or leased by cooperative housing corporations

(a)
In general— Subparagraph (B) of section 216(b)(1) of the Internal Revenue Code of 1986 is amended by inserting “or land,” after “building,”.
(b)
Effective date— The amendment made by subsection (a) shall apply to amounts paid or accrued after December 31, 2017.