Fair Accounting for Condominium Construction Act
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jun 2021
Committee Review
Floor Vote
President
Introduced Jun 22, 2021
Last action Jun 22, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Jun 22, 2021
Committee
Referred to the House Committee on Ways and Means.
lower
Jun 22, 2021
Introduced
Introduced in House
lower
1 primary · 1 co-sponsor
Sponsors
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