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.

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. 22 May 1998

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 22 May 1998

   Introduced

   Sponsor introductory remarks on measure. (CR S5454)

   Source: IntroReferral

3. 22 May 1998

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 22 May 1998 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 22 May 1998

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 May 1998

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 22 May 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

• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Moseley-Braun, Carol [D-IL] · D · Cosponsor
• Sen. Durbin, Richard J. [D-IL] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → 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.