3.0.0 1468 2019-11-15T21:48:03Z 2019-11-15T21:48:03Z House H HR 2005-04-05 109 hswm00 Ways and Means Committee House Standing hswm04 Trade Subcommittee Referred to 2005-04-11T20:55:39Z Referred to 2005-04-05T17:57:00Z A bill to amend the Internal Revenue Code of 1986 to replace the recapture bond provisions of the low income housing tax credit program. 109 2366 S 2006-03-03 Read twice and referred to the Committee on Finance. Identical bill CRS 2005-04-11 hswm04 Trade Subcommittee 1 House committee actions Referred to the Subcommittee on Trade. Committee 2005-04-05 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2005-04-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-04-05 Introduced in House IntroReferral 1000 9 Library of Congress J000163 Rep. Johnson, Nancy L. [R-CT-5] NANCY JOHNSON R CT L. 5 N R000053 Rep. Rangel, Charles B. [D-NY-15] CHARLES RANGEL D NY B. 15 2005-04-05 True H000948 Rep. Hulshof, Kenny C. [R-MO-9] KENNY HULSHOF R MO C. 9 2005-04-05 True M000388 Rep. McCrery, Jim [R-LA-4] JIM MCCRERY R LA 4 2005-05-26 False B000287 Rep. Becerra, Xavier [D-CA-31] XAVIER BECERRA D CA 31 2005-05-26 False E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 2005-06-15 False L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2005-06-21 False M000404 Rep. McDermott, Jim [D-WA-7] JIM MCDERMOTT D WA 7 2005-06-21 False F000238 Rep. Foley, Mark [R-FL-16] MARK FOLEY R FL 16 2005-06-22 False E000287 Rep. Emanuel, Rahm [D-IL-5] Rahm Emanuel D IL 5 2005-06-28 False Taxation Commerce Finance and Financial Sector Government Operations and Politics Government paperwork Housing and Community Development Income tax Limitation of actions Low-income housing Social Welfare Surety and fidelity Tax credits Tax penalties Tax returns Taxation 00 2005-04-05 Introduced in House 2005-04-21T15:13:17Z Amends the Internal Revenue Code to repeal provisions of the low income housing tax credit requiring a bond to cover recapture amounts from the disposition, prior to a 15-year compliance period, of a building (or interest therein) eligible for the credit. Provides for a three-year statute of limitation (from the end of the compliance period) for assessing a recapture deficiency.

Requires owners of buildings eligible for the low income housing tax credit to file informational returns with the Secretary of the Treasury upon the occurrence of a recapture event and to provide persons who are named in such returns with specified information. Imposes penalties for failure to file required returns.

]]> To amend the Internal Revenue Code of 1986 to replace the recapture bond provisions of the low income housing tax credit program. Display Title To amend the Internal Revenue Code of 1986 to replace the recapture bond provisions of the low income housing tax credit program. Official Title as Introduced To amend the Internal Revenue Code of 1986 to replace the recapture bond provisions of the low income housing tax credit program. Introduced in House 2005-04-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr1468ih/xml/BILLS-109hr1468ih.xml 2005-04-11 Referred to the Subcommittee on Trade. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.