Summary: H.R.4608 — 109th Congress (2005-2006)All Information (Except Text)

There is one summary for H.R.4608. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (12/16/2005)

Continuing Care Seniors Housing Act of 2005 - Amends Internal Revenue Code provisions which allow a tax exemption for the interest imputed to below-market rate interest loans to certain continuing care facilities to: (1) decrease from 65 to 62 the qualifying age for lenders to continuing care facilities; (2) eliminate the $90,000 limitation on loans to such facilities; (3) modify continuing care contract requirements; and (4) revise the definition of continuing care facility to include an independent living unit, plus an assisted living or nursing facility, or both.