A bill to amend Sections 593, 7701, and 856 of the Internal Revenue Code with respect to tax treatment of loans secured by stock in cooperative housing corporations.

Summary

Title I: Tax Treatment of Loans Secured by Shares of Stock in Cooperative Housing Corporations - Amends the Internal Revenue Code to qualify loans secured by stock in a cooperative housing corporation for the tax treatment accorded losses on certain real property loans. Revises the definition of "domestic building and loan association" to include associations at least 60 percent of the total assets of which consists of such loans. Title II: Tax Treatment of Investment by Real Estate Investment Trusts in Loans Secured by Stock in Cooperative Housing Corporations - Includes stock in a cooperative housing corporation in the amount of real estate assets and in the amount of interests in real property used for determining the status of a real estate investment trust.

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Timeline

1. 7 April 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

2. 7 April 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 9 April 1981

   Committee

   Committee on Finance requested executive comment from OMB; Treasury Department.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 7 April 1981

  Open at official source

Sponsors

• Sen. Heinz, John [R-PA] · R · Sponsor
• Sen. Lugar, Richard G. [R-IN] · R · Sponsor
• · ssfi00 · Standing

Related records

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