S. 2694 (100th): A bill to amend the Internal Revenue Code of 1986 to provide that contracts for residential construction which are completed in less than 12 months shall be exempt from the requirement to use the percentage completion method.

Introduced:
Aug 05, 1988 (100th Congress, 1987–1988)
Sponsor:
Sen. Dennis DeConcini [D-AZ]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on August 5, 1988, in a previous session of Congress, but was not enacted.

Progress
Introduced Aug 05, 1988
Referred to Committee Aug 05, 1988
Cosponsors
1 cosponsors (1D) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Summary

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Text

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Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

8/5/1988--Introduced.
Amends accounting provisions of the Internal Revenue Code to provide that the percentage completion method shall not be required in the case of any residential construction contract that the taxpayer expects to be completed within one year.

House Republican Conference Summary

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