To amend the Internal Revenue Code of 1986 to allow a deduction for interest and taxes relating to land used for dwelling purposes owned or leased by cooperative housing corporations.
Fair Tax Treatment for Manufactured Housing Community Cooperatives Act This bill amends the Internal Revenue Code to allow tenant-stockholders of a cooperative housing corporation to claim a deduction for real estate taxes and interest paid or incurred for land that is owned or leased by the corporation for dwelling purposes. (Under current law, the deduction applies to buildings and does not include land.)
Cooperative and condominium housingIncome tax deductionsInterest, dividends, interest ratesProperty tax
To amend the Internal Revenue Code of 1986 to allow a deduction for interest and taxes relating to land used for dwelling purposes owned or leased by cooperative housing corporations.
USA115th CongressHR-3399| House
| Updated: 7/26/2017
Fair Tax Treatment for Manufactured Housing Community Cooperatives Act This bill amends the Internal Revenue Code to allow tenant-stockholders of a cooperative housing corporation to claim a deduction for real estate taxes and interest paid or incurred for land that is owned or leased by the corporation for dwelling purposes. (Under current law, the deduction applies to buildings and does not include land.)