A bill to amend the Internal Revenue Code of 1986 to provide that contracts for residential construction which are completed in less than 12 months shall be exempt from the requirement to use the percentage completion method.

referredUnited States· United States Congress· EN

Introduced

5 August 1988

Last action

5 August 1988 · Introduced

Status

Read twice and referred to the Committee on Finance.

Summary

Amends accounting provisions of the Internal Revenue Code to provide that the percentage completion method shall not be required in the case of any residential construction contract that the taxpayer expects to be completed within one year.

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

Timeline

5 August 1988
Introduced
Read twice and referred to the Committee on Finance.
Source: IntroReferral
5 August 1988
Introduced
Introduced in Senate
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

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Introduced in Senate
summary · EN · 5 August 1988
Open at official source

Related records

related to → A bill to amend the Internal Revenue Code of 1986 to provide that contracts for residential construction which are completed in less than 12 months shall be exempt from the requirement to use the percentage of completion method.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/100th-congress/senate-bill/2694
Open data entity: https://api.congress.gov/v3/bill/100/s/2694
us · 100-s-2694 · source updated 3 January 2025