S 2266
110th Congress
Senate
Taxation
Cooperative housing
Housing and Community Development
Income tax
Tax deductions
Cooperative Tax Deduction Preservation Act of 2007
Introduced: October 30, 2007
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 30, 2007
Read twice and referred to the Committee on Finance.
Oct 30, 2007
Introduced in Senate
Plain-English summary
Cooperative Tax Deduction Preservation Act of 2007 - Amends the Internal Revenue Code to set forth alternative tests for qualifying as a cooperative housing corporation for purposes of the tax deduction for payments to such corporations. Qualifies a corporation if: (1) 80% or more of the total square footage of the corporation's property is used or available for use by its tenant-stockholders for residential purposes, or (2) 90% of the corporation's expenditures are for the acquisition, construction, management, maintenance, or care of its property for the benefit of the tenant-stockholders.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1