118 HR 9788 IH: To amend the Internal Revenue Code of 1986 to disregard veteran disability compensation or pension payments in determining income for purposes of the low income housing tax credit and qualified residential rental project bonds. U.S. House of Representatives 2024-09-24 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS2d SessionH. R. 9788IN THE HOUSE OF REPRESENTATIVESSeptember 24, 2024Ms. Sánchez (for herself, Mr. Gomez, Mr. Sherman, Mr. Carbajal, Mr. Takano, Mr. Levin, and Mr. Lieu) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to disregard veteran disability compensation or pension payments in determining income for purposes of the low income housing tax credit and qualified residential rental project bonds.

1.

Treatment of veteran disability compensation or pension payments for purposes of low income housing tax credit and residential rental project bonds

(a)

In general

Section 142(d)(2)(B) of the Internal Revenue Code of 1986 is amended by adding at the end the following new clause:(v)

Veteran disability compensation or pension

For purposes of determining income under this subparagraph, payments of disability compensation or pension under chapter 11 or 15 of title 38, United States Code, shall be disregarded..(b)

Effective date

The amendments made by this section shall apply to determinations made after the date of the enactment of this Act.