119-S1603
Preserving Rural Housing Investments Act
Last action was on 5-6-2025
SenateCurrent status is Read twice and referred to the Committee on Finance.
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119th CONGRESS
1st Session
S. 1603
1. Short title2. Clarification of tax-exempt controlled entity rules with respect to certain stock of government-sponsored enterprises1. 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.