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Tax Credit for Mobile Home Community Sales to Residents or Non-Profits

This act introduces a new tax credit for owners of manufactured home communities who sell their property to residents or non-profit organizations. The goal is to preserve affordable housing and protect residents from sudden rent increases or evictions. This can provide residents with greater stability and control over where they live.
Key points
Owners of manufactured home communities can receive a tax credit of 75% of the gain from the sale if they sell the property to resident cooperatives or non-profit organizations.
The property must be used as a manufactured home community for at least 50 years after the sale, ensuring long-term stability for residents.
The act aims to increase the number of manufactured home communities managed by residents or non-profits, giving residents more control over their homes and communities.
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Additional Information
Print number: 117_HR_7220
Sponsor: Rep. Omar, Ilhan [D-MN-5]
Process start date: 2022-03-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Frank Adelmann Manufactured Housing Community Sustainability Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7220.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-03-24.

What are the main provisions?

Key points include:

  • Owners of manufactured home communities can receive a tax credit of 75% of the gain from the sale if they sell the property to resident cooperatives or non-profit organizations.
  • The property must be used as a manufactured home community for at least 50 years after the sale, ensuring long-term stability for residents.
  • The act aims to increase the number of manufactured home communities managed by residents or non-profits, giving residents more control over their homes and communities.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Omar, Ilhan [D-MN-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Real Estate