,i #aaf? ,,congress #a/ ,session ,h4 ,r4 #bhcb ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,may #ag1 #bjai,ms4 ,om> 7= h]self1 ,ms4 ,lee ( ,cali=nia1 ,mr4 ,neguse1 ,mr4 ,pocan1 ,mr4 ,pappas1 ,ms4 ,ku/] ( ,new ,hamp%ire1 ,mr4 ,de,fazio1 & ,mr4 ,khanna7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to all[ a bus9ess cr$it = ga9 f ! sale ( real prop]ty = use z a manufactur$ home community1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,frank ,adelmann ,manufactur$ ,h\s+ ,community ,su/a9ability ,act4 #b4 ,f9d+s ,! ,congress f9ds t-- 7#a7 m ?an #ag million p live 9 manufactur$ homes1 b5efitt+ f high-quality af=dable homes t c provide !m /ability2 7#b7 own]s ( manufactur$ homes are disproportionately l[-income h\seholds3 9 #bjac1 ! m$ian annual h\sehold income = ^? liv+ 9 manufactur$ h\s+ 0 #bh1djj2 7#c7 ab\t #ge p]c5t ( manufactur$ home h\seholds e>n less ?an #ej1jjj2 7#d7 ov] #aj p]c5t ( ,unit$ ,/ates vet]ans live 9 manufactur$ homes2 7#e7 9 ! late #aiijs1 manufactur$ h\s+ repres5t$ two-?irds ( ! new af=dable h\s+ produc$ 9 ! ,unit$ ,/ates1 & x rema9s ! l>ge/ s\rce ( unsubsidiz$ af=dable h\s+ 9 ! c\ntry2 7#f7 z ( #bjae1 ! av]age co/ p] squ>e foot = a new manufactur$ home 0 #dh1 less ?an half ! #aja p] squ>e foot ( ! /ructure-only co/ ( a new site-built home2 7#g7 9 #bjji1 #dc p]c5t ( all new homes t sold = less ?an #aej1jjj 7 manufactur$ homes2 7#h7 manufactur$ homes acc\nts = #bc p]c5t ( new home sales "u #bjj1jjj2 7#i7 m ?an #ej1jjj manufactur$ home communities1 or mobile home p>ks1 exi/ ?r\gh\t ! ,unit$ ,/ates2 7#aj7 m ?an #b4i million manufactur$ homes are plac$ 9 manufactur$ home communities2 7#aa7 manufactur$ home communities provide critical af=dable h\s+ b receive v little local1 ,/ate1 or ,f$]al funds subsidiz+ ! co/ ( ^! homes2 7#ab7 manufactur$ home own]s 9 communities may own ! home1 b !y d n own ! l& "u _! homes1 leav+ !m vuln]able to r5t increases1 arbitr>y rule en=cem5t1 & ev5 closure ( ! community if ! community own] decides to conv]t ! l& to "s o!r use2 7#ac7 eviction or closure ( manufactur$ home communities is v disruptive to resid5ts :o may be unable to pay ! ?\s&s ( doll>s x takes to move _! home or ev5 f9d a new location = _! home2 7#ad7 9 ! pa/ two decades1 a national network ( h\s+ provid]s has help$ resid5ts pur*ase & own ! l& & manage ! community 9 ord] to pres]ve a crucial s\rce ( af=dable h\s+2 7#ae7 nationwide1 !re are m ?an #a1jjj ( ^! /able1 p]man5t own]%ip coop]atives or nonpr(it-own$ developm5ts 9 m ?an a doz5 ,/ates2 7#af7 memb]s cont9ue to own _! own homes individually & an equal %>e ( ! l& b5ea? ! entire neighborhood :]e ev]yone has a say 9 ! way ! resid5t-own$ community is run1 & major decisions are made by democratic vote by a memb]-elect$ bo>d ( directors2 7#ag7 9 ,new ,hamp%ire1 m ?an #bj p]c5t ( manufactur$ home communities are own$ by resid5ts2 7#ah7 9 ,v]mont1 ,massa*usetts1 ,rhode ,isl&1 ,wa%+ton1 ,oregon1 & ,m9nesota1 resid5t-own$ coop]atives & nonpr(it own]%ip h fl\ri%$2 7#ai7 nationwide1 only #b p]c5t ( all manufactur$ home communities are resid5t- or nonpr(it-own$2 7#bj7 own]s are frequ5tly reluctant to sell ! community because !y w\ld pref] to pass ! prop]ty on to _! heirs tax free & avoid capital ga9s taxes2 7#ba7 :5 ! own] dies1 ! heirs frequ5tly sell ! community to ! highe/ bidd] result+ 9 displacem5t = doz5s & sometimes hundr$s ( families2 & 7#bb7 a ,f$]al tax b5efit ne$s to be e/abli%$ to induce own]s to sell to resid5ts !y h kn[n = decades or to nonpr(it organizations 9 ord] to pres]ve ! community = ye>s to come4 #c4 ,tax cr$it = manufactur$ home community sale to resid5ts or nonpr(it entity 7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf 7relat+ to bus9ess relat$ cr$its7 is am5d$ by add+ at ! end ! foll[+ new section3 #de,t4 ,manufactur$ home community sale to resid5ts or nonpr(it entity 7a7 ,all[ance ( cr$it ,= purposes ( section #ch1 ! manufactur$ home community sale cr$it det]m9$ "u ?is section = any taxable ye> is an am\nt equal to #ge p]c5t ( ! qualifi$ ga9 receiv$ by ! taxpay] dur+ ! taxable ye>4 7b7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,qualifi$ ga9 ,! t]m qualifi$ ga9 means ga9 f ! sale or ex*ange ( real prop]ty to a qualifi$ manufactur$ home community coop]ative or corporation if-- 7,a7 ! real prop]ty is acquir$ = use z a manufactur$ home community1 & 7,b7 ! requirem5ts ( p>agraph 7#b7 are met4 7#b7 ,requirem5ts ,! requirem5ts ( ?is p>agraph are met if-- 7,a7 ! sell] 7or any relat$ p]son7 own$ ! prop]ty = n less ?an ! #b-ye> p]iod end+ be=e ! sale or ex*ange1 & 7,b7 ! prop]ty is transf]r$ subject to a b9d+ cov5ant t ! prop]ty w be us$ z a manufactur$ home community = a t]m ( n less ?an #ej ye>s 7or1 9 ! case ( a manufactur$ home community locat$ 9 a ,/ate ! laws ( :i* re/rict su* cov5ant to a less] t]m1 ! maximum p]missible t]m all[$ "u su* ,/ate laws74 7#c7 ,manufactur$ home community ,! t]m manufactur$ home community means a community compris$ prim>ily ( manufactur$ homes us$ solely = resid5tial purposes & own$ by a manufactur$ home community coop]ative or corporation4 7#d7 ,manufactur$ home community coop]ative or corporation 7,a7 ,9 g5]al ,! t]m qualifi$ manufactur$ home community coop]ative or corporation means a coop]ative or a nonpr(it corporation e/abli%$ pursuant to ! laws ( ! ,/ate 9 :i* ! prop]ty us$ z a manufactur$ home community is locat$ & :i*-- 7i7 9 ! case ( a community own$ by a nonpr(it corporation ^: memb]%ip int]e/s are sold on a nonappreciat+ basis1 has only "o class ( memb]%ip consi/+ ( resid5ts1 & 7ii7 9 ! case ( a community own$ by a coop]ative1 has no m ?an two classes ( memb]%ip1 :i* includes bo? memb]s & a tax-exempt organization actively engag$ 9 support+ af=dable h\s+ & resid5t-own$ manufactur$ home communities4 7,b7 ,gov]nance ,an entity %all n be treat$ z a qualifi$ manufactur$ home community coop]ative or corporation = purposes ( subp>agraph 7,a7 unless gov]nance ( ! entity is c>ri$ out by memb]s elect$ to a bo>d ( directors ) vot+ /ructur$ equitably among all memb]s4 7,c7 ,memb] ,! t]m memb] means-- 7i7 an individual-- 7,i7 has atta9$ ! age ( #ah1 7,,ii7 is entitl$ by reason ( ! individual's memb]%ip int]e/ to execute an occupancy agreem5t ) ! manufactur$ home community coop]ative nonpr(it ) respect to "o site 9 ! manufactur$ home community = ! purposes ( situat+ a manufactur$ home own$ by ! memb] or1 z p]mitt$ by ! manufactur$ community coop]ative or corporation1 ! memb]'s tru/ or o!r entity1 & 7,,iii7 is a resid5t ( ! manufactur$ home community1 & 7ii7 a tax exempt organization4 7#e7 ,memb]%ip int]e/ ,! t]m memb]%ip int]e/ means an own]%ip int]e/ 9 a manufactur$ home community coop]ative or corporation or a memb]%ip int]e/ 9 a manufactur$ home community nonpr(it corporation4 7#f7 ,manufactur$ home ,! t]m manufactur$ home means a /ructure1 transportable 9 "o or m sections1 :i*-- 7,a7 9 ! travel+ mode1 is #h body feet or m 9 wid? & #dj body feet or m 9 l5g?1 or :5 erect$ on site1 is #cbj squ>e feet or m1 7,b7 is built on a p]man5t *assis & design$ to be us$ z a dwell+ 7) or )\t a p]man5t f\ndation :5 connect$ to requir$ utilities7 & includes plumb+1 heat+1 & electrical heat+ sy/ems1 & 7,c7 9 ! case ( a /ructure manufactur$ aft] ,june #ae1 #aigf1 is c]tifi$ z meet+ ! ,manufactur$ ,home ,con/ruction & ,safety ,/&>ds issu$ "u ! ,national ,manufactur$ ,h\s+ ,con/ruction & ,safety ,/&>ds ,act ( #aigd 7#db ,u4,s4,c4 #edja-edbf7 by ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t & displays a label ( su* c]tification on ! ext]ior ( ea* transportable section4 7c7 ,special rules 7#a7 ,relat$ p]son ,= purposes ( subsection 7b77#b77;,a71 a p]son 7h]eaft] 9 ?is subp>agraph ref]r$ to z ! relat$ p]son7 is relat$ to ! sell] if-- 7,a7 ! relat$ p]son be>s a relation%ip to ! sell] specifi$ 9 section #bfg7;b7 or #gjg7;b77#a71 or 7,b7 ! relat$ p]son & ! sell] are engag$ 9 trades or bus9esses "u common control 7)9 ! mean+ ( subsections 7a7 & 7b7 ( section #eb74 7#b7 ,election by bo? sell] & buy] ,! cr$it is all[able "u ?is section only if-- 7,a7 elect$ by bo? ! sell] & ! buy] ( ! real prop]ty & evid5c$ by an affidavit execut$ by bo? p>ties1 & 7,b7 ! buy] ( ! real prop]ty records ! affidavit & ! affidavit is ref]5c$ 9 its de$ to ! real prop]ty4 ,! sell] %all elect ! cr$it "u ?is section on its return ( tax4 7d7 ,tax ^u violation ( cov5ant ,!re is impos$ a tax on ! buy] = a violation ( ! cov5ant specifi$ 9 subsection 7b77#b77;,b74 ,! am\nt ( su* tax %all be #bj p]c5t ( ! net proce$s aft] settlem5t = ! sale or ex*ange ( ! real prop]ty ref]r$ to 9 subsection 7b77#b74 ,= purposes ( section #eja7;a71 ! tax impos$ by ?is subsection %all n be treat$ z a tax impos$ by ?is subtitle4 7e7 ,regulations ,! ,secret>y %all issue su* regulations or o!r guidance z may be necess>y to c>ry out ?is section1 includ+ ! recapture ( ! tax b5efit "u ?is section 9 any case 9 :i* ! real prop]ty describ$ 9 subsection 7b7 is n us$ z a manufactur$ home community = at lea/ #ej ye>s4 4 7b7 ,cr$it all[$ z "p ( g5]al bus9ess cr$it ,section #ch7;b7 ( su* ,code is am5d$ by /rik+ plus at ! end ( p>agraph 7#ca71 by /rik+ ! p]iod at ! end ( p>agraph 7#cb7 & ins]t+ 1 plus1 & by add+ at ! end ! foll[+ new p>agraph3 7#cc7 ! manufactur$ home community sale cr$it det]m9$ "u section #de,t7a74 4 7c7 ,con=m+ am5dm5ts 7#a7 ,subsection 7c7 ( section #aif ( su* ,code is am5d$ by /rik+ & at ! end ( p>agraph 7#ac71 by /rik+ ! p]iod at ! end ( p>agraph 7#ad7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#ae7 ! manufactur$ home community sale cr$it det]m9$ "u section #de,t7a74 4 7#b7 ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( su* ,code is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #de,t4 ,manufactur$ home community sale to resid5ts or nonpr(it entity4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4