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.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 7 April 1981

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.