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Tax Credit to Help Residents Buy Mobile Home Parks

A new law offers a significant tax credit to owners who sell manufactured home communities (mobile home parks) to resident groups or non-profit organizations. This aims to make it easier for residents to buy the land their homes are on, providing more stable and secure housing.
Key points
Offers a 75% tax credit on the profit for owners selling mobile home parks to resident groups or non-profits.
Requires the property to be kept as a mobile home park for at least 50 years, protecting residents.
Helps residents potentially own the land under their homes, increasing housing security and stability.
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Additional Information
Print number: 117_S_4475
Sponsor: Sen. Shaheen, Jeanne [D-NH]
Process start date: 2022-06-23