HOUSE 4280118th CongressReferred to the House Committee on Ways and Means.
Fair Accounting for Condominium Construction Act
- Last Action
- 6/22/2023
Actions
- 2023-06-22Referred to the House Committee on Ways and Means.
- 2023-06-22Introduced in House
- 2023-06-22Introduced in House
CRS Summary
As of 2023-06-22 (00)
Fair Accounting for Condominium Construction Act
This bill exempts certain residential construction contracts from the requirement to use the percentage of completion method of accounting. The percentage of completion method is a tax accounting method in which the revenues and expenses of long-term contracts are recognized as a percentage of the work completed in a particular period.
Cosponsors (1)
- WILLIAM PASCRELL (D-NJ)
Sourced from Congress.gov (public domain).
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