,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #eagf  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,augu/ #h1 #bjbc,mr4  
,s*iff 7= himself & ,mr4 ,pet]s7        
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to all[ = nonrecognition (
 ga9 on real prop]ty sold = use z       
af=dable h\s+4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,af=dable &        
,homeless ,h\s+ ,inc5tives ,act ( #bjbc4
  #b4 ,nonrecognition ( ga9 on prop]ty  
sold = use z af=dable h\s+  7a7 ,9 g5]al
 ,section #ajcc ( ! ,int]nal ,rev5ue    
,code ( #aihf is am5d$ by r$esignat+    
subsection 7k7 z subsection 7l7 & by    
ins]t+ aft] subsection 7j7 ! foll[+ new 
subsection3  7k7 ,sales = use z af=dable
 h\s+  7#a7 ,9 g5]al ,= purposes ( ?is  
subtitle1 if real prop]ty is sold or    
o!rwise transf]r$ to a qualifi$ h\s+    
op]ator = use or developm5t by su*      
op]ator z af=dable h\s+ & su* prop]ty   
meets ! requirem5ts ( p>agraphs 7#c7 &  

7#d71 su* sale or transf] %all be treat$
 z an involunt>y conv]sion to :i* ?is   
section applies4  7#b7 ,qualifi$ h\s+   
op]ator ,= purposes ( ?is section1 ! t]m
 qualifi$ h\s+ op]ator means any ( !    
foll[+3 7,a7 ,a ,/ate or local gov]nm5t1
 or any political subdivision or        
in/rum5tality !re(4  7,b7 ,a tribally   
designat$ h\s+ entity 7z su* t]m is     
def9$ 9 section #d ( ! ,native ,am]ican 
,h\s+ ,assi/ance & ,self-,det]m9ation   
,act ( #aiif74  7,c7 ,a community h\s+  
developm5t organization 7z su* t]m is   
def9$ 9 section #ajd ( !                
,cran/on-,gonzalez ,national ,af=dable  
,h\s+ ,act74  7,d7 ,an organization--   
7i7 describ$ 9 section #eja7;c7 & exempt
 f taxation "u section #eja7;a71  7ii7 !
 purpose ( :i* includes provid+ af=dable
 h\s+1 &  7iii7 :i*-- 7,i7 has receiv$  
,f$]al1 ,/ate1 or local grant funds to  
develop or op]ate af=dable h\s+1 or     
7,,ii7 is describ$ 9 section            
#db7;h77#e77;,b7 ) respect to a qualifi$
 l[-income h\s+ project t is allocat$   

h\s+ cr$it doll> am\nts "u section #db4 
7#c7 ,af=dable h\s+ requirem5t ,!       
requirem5ts ( ?is p>agraph are met )    
respect to prop]ty if su* prop]ty has1 z
 ( ! date ( ! sale or transf] ref]r$ to 
9 p>agraph 7#a71 a cov5ant or o!r b9d+  
legal re/riction suffici5t to-- 7,a7    
obligate1 at all times dur+ ! #cj-ye>   
p]iod beg9n+ on su* date1 ea* own] ( su*
 prop]ty ) respect to ! portion ( su*   
p]iod dur+ :i* su* own] owns su*        
prop]ty1 to ma9ta9 su* prop]ty z ei!r-- 
7i7 resid5tial r5tal prop]ty 7)9 ! mean+
 ( section #afh7 n less ?an #ge p]c5t ( 
! units ( :i* are af=dable to l[-income 
families & ei!r occupi$ by or available 
= use by l[-income resid5ts1 or  7ii7 a 
%elt] eligible = assi/ance "u title ,,iv
 ( ! ,mc,kinney-,v5to ,homeless         
,assi/ance ,act1 &  7,b7 provide any    
p]son a "r to obta9 injunctive relief to
 en=ce ! obligations describ$ 9         
subp>agraph 7,a74  7#d7 ,notification ( 
,dep>tm5t ( ,h\s+ & ,urban ,developm5t  
,! requirem5ts ( ?is p>agraph are met ) 

respect to any prop]ty if1 n lat] ?an   
#ij days aft] ! date ( ! sale or transf]
 ref]r$ to 9 p>agraph 7#a71 ! transf]or 
notifies ! ,secret>y ( ,h\s+ & ,urban   
,developm5t ( su* transf] 9 su* mann] z 
su* ,secret>y may provide4  7#e7        
,special rule ) respect to p]iod )9 :i* 
prop]ty mu/ be replac$ ,9 ! case ( a    
sale or transf] describ$ 9 p>agraph     
7#a71 subsection 7a77#b77;,b77i7 %all be
 appli$ by sub/itut+ #c ye>s = #b ye>s4 
7#f7 ,special rule = real prop]ty held =
 productive use 9 trade or bus9ess ,=   
purposes ( subsection 7a71 if ! real    
prop]ty describ$ 9 p>agraph 7#a7 is held
 = productive use 9 a trade or bus9ess  
or = inve/m5t1 prop]ty ( a l k9d to be  
held ei!r = productive use 9 a trade or 
bus9ess or = inve/m5t %all be treat$ z  
prop]ty simil> or relat$ 9 s]vice or use
 to ! prop]ty s describ$4  4  7b7       
,en=cem5t obligations ( ! ,dep>tm5t (   
,h\s+ & ,urban ,developm5t ,) respect to
 ea* prop]ty ) respect to :i* !         
,secret>y ( ,h\s+ & ,urban ,developm5t  

receives notification "u p>agraph 7#d7 (
 section #ajcc7k7 ( ! ,int]nal ,rev5ue  
,code ( #aihf1 su* ,secret>y1 act+ ?\gh 
! ,dep>tm5tal ,en=cem5t ,c5t] 7,,dec7 ( 
! ,dep>tm5t ( ,h\s+ & ,urban            
,developm5t1 %all ensure 7n less (t5 ?an
 e #e ye>s dur+ ! #cj-ye> p]iod describ$
 9 p>agraph 7#c77;,a7 ( su* section7 t  
su* prop]ty complies ) ! requirem5ts (  
su* p>agraph 7#c77;,a71 includ+ if      
necess>y by obta9+ ! injunctive relief  
describ$ 9 p>agraph 7#c77;,b7 ( su*     
section4  7c7 ,effective date ,! am5dm5t
 made by ?is section %all apply to sales
 & transf]s aft] ! date ( ! enactm5t (  
?is ,act4