Distressed Communities Reinvestment Act of 2009
Latest action · Oct 14, 2009 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 14, 2009
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Distressed Communities Reinvestment Act of 2009 - Amends the Internal Revenue Code to exclude from gross income gain from the sale of real property consisting predominantly of commercial and residential property located in a distressed community. Defines "distressed community" as a county designated by the Secretary of the Treasury as: (1) having, during a specified period, a residential or commercial mortgage foreclosure rate of 110% or more of the national average, a decline in the average fair market value of housing of at least 20%, or an unemployment rate of 110% or more of the national average; (2) having more than 50% of its housing loans with a loan-to-value ratio of greater than 80%; or (3) being in a disaster area.
Cosponsors 1
Members who signed on, in the order they did. All signed on Dec 8, 2009.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-CO | Jared Polis | Dec 8, 2009 |
Actions 2
Everything that happened, newest first.
- Oct 14, 2009Introduced in House
- Oct 14, 2009Referred to the House Committee on Ways and Means.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Oct 14, 2009Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.