A bill to amend the Internal Revenue Code of 1954 with respect to the period for including in gross income certain advance payments accrued by life care communities.

referredUnited States· United States Congress· EN

Introduced

1 February 1979

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to permit an accrual basis taxpayer who operates a life care community to include in gross income over a ten year period an amount paid by an individual incident to becoming a resident of such life care community. Defines "life care community" as a community owned or leased by the taxpayer which provides housing and health care services for permanent residents (age 60 or older) and which contains separate dwelling units available for rental for at least 100 residents.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Introduced in House
summary · EN · 1 February 1979
Open at official source

Related records

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/96th-congress/house-bill/1782
Open data entity: https://api.congress.gov/v3/bill/96/hr/1782