A bill to amend the Internal Revenue Code of 1954 to provide an exemption from income taxation for cooperative housing corporations and condominium housing associations.

Summary

Provides an exemption from income taxation under the Internal Revenue Code for cooperative housing corporations and condominium housing organizations if; (1) membership in such owners of units within the project; (2) such owners are entitled to receive distributions from the organization only upon its liquidation; and (3) 80 percent or more of the gross income of the organization represents payments received from owners of units in the project.

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

Timeline

1. 4 February 1975

   Introduced

   Introduced in House

   Source: IntroReferral

2. 4 February 1975

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 February 1975

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

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 · 4 February 1975

  Open at official source

Sponsors

• Rep. Lehman, William [D-FL-17] · D · Sponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1954 to provide an exemption from income taxation for cooperative housing corporations and condominium housing associations.
• related to ← A bill to amend the Internal Revenue Code of 1954 to provide an exemption from income taxation for cooperative housing corporations and condominium housing associations.