To amend the Internal Revenue Code of 1986 to provide an incentive to preserve affordable housing in multifamily housing units which are sold or exchanged.
Affordable Housing Preservation Tax Relief Act of 2003 - Amends the Internal Revenue Code to establish an affordable housing credit for the qualified preservation sale or exchange of an eligible multifamily property to or with a preservation entity which agrees to maintain specified affordability and use restrictions regarding the property.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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