HR 537
103th Congress
House
Taxation
Business losses
Cooperative housing
Cooperative societies
Corporation taxes
Earnings
Housing and Community Development
Income tax
Tax administration
Tax deductions
Housing Co-op Tax Correction Act of 1993
Introduced: January 21, 1993
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 13, 1993
Hearing Held on Issue by Subcommittee on Select Revenue Measures.
Jan 21, 1993
Referred to the House Committee on Ways and Means.
Jan 21, 1993
Introduced in House
Plain-English summary
Housing Co-op Tax Correction Act of 1993 - Amends the Internal Revenue Code to exclude cooperative housing corporations from the limitations on deductions incurred by certain membership organizations in transactions with their members.
Prohibits patronage losses of an organization from being used to offset earnings which are not patronage earnings. Specifies earnings to be treated as patronage earnings in the case of cooperative housing corporations.
What's happening now
Hearing Held on Issue by Subcommittee on Select Revenue Measures.
Committees of jurisdiction
1