legislation: 103-hr-5275

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
103-hr-5275 103 hr 5275 Federal Housing Trust Fund Act of 1994 Housing and Community Development 1994-10-07 1994-11-08 Referred to the Subcommittee on Housing and Community Development. House Rep. Owens, Major R. [D-NY-11] NY D O000159 0 TABLE OF CONTENTS: Title I: Reduction of Certain Tax Benefits for Higher Income Taxpayers and Establishment of Housing Trust Fund Title II: Administration of Housing Trust Fund and Entitlement Program for Formula Grants for Affordable Housing Federal Housing Trust Fund Act of 1994 - Title I: Reduction of Certain Tax Benefits for Higher Income Taxpayers and Establishment of Housing Trust Fund - Amends the Internal Revenue Code to: (1) limit mortgage interest and property tax deductions for taxpayers whose adjusted gross income exceeds $75,000; (2) treat property acquired from a decedent as property acquired by gift for purposes of basis determinations; (3) phase in capital gains tax on inherited property; and (4) create in the Treasury the Housing Trust Fund (Fund). Title II: Administration of Housing Trust Fund and Entitlement Program for Formula Grants for Affordable Housing - Directs the Secretary of Housing and Urban Development to make affordable housing grants from the Fund to qualifying entities. Requires such entities to carry out housing costs and housing supply assistance programs. Establishes a Housing Trust Fund Advisory Committee. Amends the Department of Housing and Urban Development Act to establish in the Department of Housing and Urban Development a position of Administrator of the Housing Trust Fund. 2025-08-26T13:49:03Z  

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