Summary: S.2125 — 105th Congress (1997-1998)All Information (Except Text)

There is one summary for S.2125. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (05/22/1998)

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.