There is one summary for this bill. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (08/03/1998)

Amends the Internal Revenue Code to authorize, in the case of a housing cooperative eligible for the low-income housing tax credit: (1) nonresident shareholders to include such credit and the deduction for certain unpaid acquisition interest allowable to the cooperative proportionally in the calculation of their individual income taxes; and (2) resident shareholders to include the deduction for real estate taxes and interest paid by the cooperative proportionally in the calculation of their individual income taxes.