A bill to amend the Internal Revenue Code of 1954 to provide an exemption from income taxation for condominium housing associations and certain homeowners associations and to tax the unrelated business income of such organizations.

Summary

Provides an exemption from income taxation under the Internal Revenue Code for non-profit condominium housing associations and homeowners' associations to the extent that the income does not inure to the benefit of any particular member and is not derived from business purposes unrelated to the preservation, maintenance, and management of the common areas and facilities owned by such organization.

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

Timeline

1. 17 July 1975

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 17 July 1975

   Introduced

   Introduced in House

   Source: IntroReferral

3. 17 July 1975

   Introduced

   Introduced in House

   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 · 17 July 1975

  Open at official source

Sponsors

• Rep. Frenzel, Bill [R-MN-3] · R · Sponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.