A bill to amend section 216 of the Internal Revenue Code of 1954 to include corporations and others within the definition of the term "tenant-stockholder" for purposes of the provisions relating to cooperative housing corporations.

Summary

Redefines the term "tenant stockholder" for the purposes of the Internal Revenue Code to mean a person (presently an individual) who is a stockholder in a cooperative housing corporation, and whose stock is fully paid-up in an amount not less than an amount shown to the satisfaction of the Secretary or his delegate as bearing a reasonable relationship to the portion of the value of the corporation's equity in the houses or apartment building and the land on which situated which is attributable to the house or apartment which such individual is entitled to occupy. (Amends 26 U.S.C. 216(b))

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1 official file

• Introduced in House

  summary · EN · 14 January 1975

  Open at official source

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