CONGRESS FOR VOTERS

RepublicanBill · H.R. 2759· House(119-HR-2759)

Fair Accounting for Condominium Construction Act

Rep. Buchanan
Age: 75 years
Florida
Introduced
4/9/2025
Last activity
4/9/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Vern Buchanan
Cosponsors
None
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "Fair Accounting for Condominium Construction Act," seeks to amend the Internal Revenue Code of 1986. It proposes an exception to the percentage of completion method of accounting for specific residential construction contracts. The changes involve updating definitions and adjusting how certain contracts are treated. These amendments specifically target residential construction contracts that do not meet existing home construction contract requirements. The Act will apply to contracts entered into after its enactment date.

Yes· 3 of 5

  • Does this cut taxes for small businesses?+2

    The bill provides accounting relief for residential construction contracts, which may reduce the tax burden for developers.

  • Does this make it easier to run a small business?+2

    The accounting exception provides easier tax compliance for residential construction businesses.

  • Would business owners be better off under this?+2

    Construction business owners benefit from more flexible tax accounting methods for residential contracts.

The opposite

No question was scored the opposite.