To amend the Internal Revenue Code of 1986 to provide for the tax treatment of section 42 housing cooperatives and the shareholders of such cooperatives, and for other purposes.

Summary

Amends the Internal Revenue Code to authorize, in the case of a housing cooperative eligible for the low-income housing tax credit: (1) nonresident shareholders to include such credit and the deduction for certain unpaid acquisition interest allowable to the cooperative proportionally in the calculation of their individual income taxes; and (2) resident shareholders to include the deduction for real estate taxes and interest paid by the cooperative proportionally in the calculation of their individual income taxes.

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

Timeline

1. 3 August 1998

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 3 August 1998

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 August 1998

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 3 August 1998 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 August 1998

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 August 1998

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 3 August 1998

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Ramstad, Jim [R-MN-3] · R · Sponsor
• Rep. Weller, Jerry [R-IL-11] · R · Sponsor
• Rep. Metcalf, Jack [R-WA-2] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1986 to provide for the tax treatment of section 42 housing cooperatives and the shareholders of such cooperatives, and for other purposes.