Bill117th CongressFiled Jun 22, 2021Taxation
H.R. 4061
Fair Accounting for Condominium Construction Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Jun 22, 2021)
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.
What just happenedJun 22, 2021
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Pascrell, Bill, Jr. [D-NJ-9](D-NJ)Sponsor
1 cosponsor1 R
1cosponsors1committees3actions4subjects
- Introduced in HouseJun 22, 2021
- Jun 22, 2021IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jun 22, 2021IntroReferralIntro-H
Introduced in House
- Jun 22, 2021IntroReferral1000
Introduced in House