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.

referredUnited States· United States Congress· EN

Introduced

20 February 1975

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Provides an exemption from income taxation under the Internal Revenue Code of 1954 for cooperative housing corporations and condominium housing associations in the case where: (1) membership is limited to the property owners; (2) members are not entitled to any distributions except upon liquidation of such corporation or association, and (3) 80 percent of the gross income of the association is derived from its members.

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Documents

1 official file

Introduced in House
summary · EN · 20 February 1975
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/94th-congress/house-bill/3415
Open data entity: https://api.congress.gov/v3/bill/94/hr/3415