Preserving Rural Housing Investments Act

Bill: 118-hr-9267
Sponsor: full_name: Rep. LaHood, Darin [R-IL-16]
Introduced: 2024-08-02
Policy area: Taxation
Latest action: action_date: 2024-08-02
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 9267 IN THE HOUSE OF REPRESENTATIVES August 2, 2024 Mr. LaHood (for himself, Mr. Kildee , and Mr. Panetta ) 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 clarify the tax-exempt controlled entity rules with respect to certain stock of government-sponsored enterprises.

1. Short title This Act may be cited as the Preserving Rural Housing Investments Act . 2. Clarification of tax-exempt controlled entity rules with respect to certain stock of government-sponsored enterprises (a) In general Section 168(h)(6)(F)(iii)(I) of the Internal Revenue Code of 1986 is amended by adding at the end the following new sentence: For purposes of applying the preceding sentence to the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association, the term tax-exempt entity shall not include the United States or any agency or instrumentality of the United States. . (b) Effective date The amendment made by this section shall apply to taxable years ending after July 30, 2008.