[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3399 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 3399

  To amend the Internal Revenue Code of 1986 to allow a deduction for 
interest and taxes relating to land used for dwelling purposes owned or 
              leased by cooperative housing corporations.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 26, 2017

 Mr. Ellison introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to allow a deduction for 
interest and taxes relating to land used for dwelling purposes owned or 
              leased by cooperative housing corporations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Fair Tax Treatment for Manufactured 
Housing Community Cooperatives Act''.

SEC. 2. DEDUCTION ALLOWED FOR INTEREST AND TAXES RELATING TO LAND USED 
              FOR DWELLING PURPOSES OWNED OR LEASED BY COOPERATIVE 
              HOUSING CORPORATIONS.

    (a) In General.--Subparagraph (B) of section 216(b)(1) of the 
Internal Revenue Code of 1986 is amended by inserting ``or land,'' 
after ``building,''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to amounts paid or accrued after December 31, 2017.
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