legislation: 108-s-2689

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
108-s-2689 108 s 2689 A bill to amend the Internal Revenue Code of 1986 to replace the recapture bond provisions of the low income housing tax credit program. Taxation 2004-07-20 2004-07-20 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S8476-8477) Senate Sen. Lincoln, Blanche L. [D-AR] AR D L000035 0 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. 2023-01-14T22:48:27Z  

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