Washington, DC – April 14, 2011 – (RealEstateRama) — To create jobs by encouraging private, rather than public, investment in the troubled housing market, Congressman Jared Polis (D-CO) and Congressman Mike Coffman (R-CO) today introduced the Investment Property Opportunity Act of 2011 (H.R. 1481). The bipartisan legislation would waive capital gains taxes on private investments made in residential real estate in high foreclosure areas.
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