To establish a Federal Housing Trust Fund to provide decent, safe, and affordable housing for low-income families lacking such housing.
TABLE OF CONTENTS:
Title I: Reduction of Certain Tax Benefits for Higher Income
Taxpayers and Establishment of Housing Trust Fund
Title II: Administration of Housing Trust Fund and
Entitlement Program for Formula Grants for Affordable Housing
Federal Housing Trust Fund Act of 1995 - Title I: Reduction of Certain Tax Benefits for Higher Income Taxpayers and Establishment of Housing Trust Fund - Amends the Internal Revenue Code to: (1) limit mortgage interest and property tax deductions for taxpayers whose adjusted gross income exceeds $75,000; (2) treat property acquired from a decedent as property acquired by gift for purposes of basis determinations; (3) phase in capital gains tax on inherited property; and (4) create in the Treasury the Housing Trust Fund (Fund).
Title II: Administration of Housing Trust Fund and Entitlement Program for Formula Grants for Affordable Housing - Directs the Secretary of Housing and Urban Development to make affordable housing grants from the Fund to qualifying entities.
Requires such entities to carry out housing costs and housing supply assistance programs.
Establishes a Housing Trust Fund Advisory Committee.
Amends the Department of Housing and Urban Development Act to establish in the Department of Housing and Urban Development a position of Administrator of the Housing Trust Fund.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E405-406)
Referred to the Committee on Ways and Means, and in addition to the Committee on Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Ways and Means, and in addition to the Committee on Banking and Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Housing and Community Opportunity.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line