United States · Bill · HR
H.R. 4058 (109th)
To amend the Internal Revenue Code of 1986 to modify the construction contract exception to the percentage of completion method for determining income under long-term contracts.
Introduced
17 October 2005
Last action
—
Status
Referred to the House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
2 January 2025
Summary
Amends the Internal Revenue Code to revise requirements relating to the exemption for construction contracts from the percentage of completion method for determining income under long-term contracts. Extends the estimated completion time for such contracts from two to three years and increases the gross receipts eligibility limitation from $10 million to $25 million.
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Documents
3 official files
Introduced in House (text)
Introduced in House (text)
Introduced in House · EN · 17 October 2005
Introduced in House (PDF)
Introduced in House · EN · 17 October 2005
Introduced in House
summary · EN · 17 October 2005
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/109th-congress/house-bill/4058
- Open data entity: https://api.congress.gov/v3/bill/109/hr/4058