Amendment101st Congress
Amendment established a formula for low- and moderate-income homeowners and community nonprofits to share in any profits from the sale of a home subsidized with community housing partnership funds.
- Amendment Number
- 636
- Description
- Amendment established a formula for low- and moderate-income homeowners and community nonprofits to share in any profits from the sale of a home subsidized with community housing partnership funds.
- Purpose
- An amendment to modify the provisions of the bill relating to the amount of profit low-income homeowners may retain when selling a home purchased through the Community Housing Partnership Program. The amendment would allow homeowners under the program to keep their equity plus any increase in the value of the house, less the value of the public subsidy invested in the home, provided the home has been owned for five or more years. In succeeding years, the owner would be permitted to keep incrementally more of the increased value of the home until the 10th year, when the owner would be entitled to the entire profit from the sale.
- Congress
- 101
- Type
- HAMDT
- Latest Action Date
- Jul 31, 1990
- Latest Action Text
- On agreeing to the Kennedy amendment (A004) Agreed to by voice vote.
- Latest Action Time
- 16:01:34
- Submitted Date
- Jul 31, 1990
- Chamber
- House of Representatives
- Update Date
- Jul 1, 2021