Manufactured Housing Community Sustainability Act of 2022

This bill allows a new tax credit equal to 75% of the gain from the sale or exchange of real property to a qualified manufactured home community cooperative or corporation if  (1) the property is acquired for use as a manufactured home community, (2) the seller (or any related person) owned the property for the entire two-year period before the sale or exchange, and (3) the property is transferred subject to a binding covenant that the property will be used as a manufactured home community for at least 50 years or the maximum permissible term under state laws that restrict such covenants to a lesser term.

The bill defines manufactured home community as a community comprised primarily of manufactured homes used solely for residential purposes and owned by a manufactured home community cooperative or corporation.