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S 2125 105th Congress Senate

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.

Introduced: September 22, 1998 See on congress.gov
Taxation Apartment housesBusiness income taxCommerceCooperative housing
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Finance and Financial SectorHome repair and improvementHousing and Community DevelopmentIncome taxInterestLow-income housingPersonal income taxReal property taxResidential rehabilitationSocial WelfareStockholdersTax creditsTax deductions
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 1998
Read twice and referred to the Committee on Finance.
May 22, 1998
Sponsor introductory remarks on measure. (CR S5454)
May 22, 1998
Introduced in Senate
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 Latest action May 22, 1998

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
  • HR 4386 Identical bill To amend the Internal Revenue Code of 1986 to provide for the tax treatment of section 42 housing cooperatives and the …
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Durbin, Richard J.
Illinois · Sep 22, 1998
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2125: 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.. 105th Congress. Open America. https://openamerica.io/bill/105-S-2125/
MLA
"S. 2125: 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.." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-S-2125/.
Bluebook (legal)
S. 2125, 105th Cong. (2026), https://openamerica.io/bill/105-S-2125/.
Markdown link
[S. 2125: 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.](https://openamerica.io/bill/105-S-2125/)
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