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.

Bill: 118-hr-9788
Sponsor: full_name: Rep. Sánchez, Linda T. [D-CA-38]
Introduced: 2024-09-24
Policy area: Armed Forces and National Security
Latest action: action_date: 2024-09-24
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 9788 IN THE HOUSE OF REPRESENTATIVES September 24, 2024 Ms. 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 Means A BILL 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.

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.