S. 1241Senate110th Congress (2007-2009)In Committee

A bill to amend the Internal Revenue Code of 1986 to clarify student housing eligible for the low-income housing credit, and for other purposes.

Introduced April 26, 2007

Legislative Activity

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SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5218)

April 26, 2007

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SenateIntro Referral

Introduced in Senate

April 26, 2007

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S5218)

April 26, 2007

Floor Debate

13 members

What members said about S. 1241 on the floor

3 Republicans10 Democrats
Lisa Murkowski
Sen. Lisa MurkowskiR-AK · Apr 26, 2007

Mr. President, I rise to speak about legislation I am introducing entitled the School Accountability Improvements Act. We all know about No Child Left Behind, the Federal legislation that was…

Christopher J. Dodd
Sen. Christopher J. DoddD-CT · Apr 26, 2007

Mr. President, I rise to introduce the College Saver's Credit Act, a bill designed to open the dream of higher education to many more Americans. Few choices in life have the economic consequence as…

Daniel K. Akaka
Sen. Daniel K. AkakaD-HI · Apr 26, 2007

Mr. President, today I, along with my good friend and ranking member, Senator Craig, introduce comprehensive legislation to improve the capacity of the Department of Veterans Affairs to care for…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Apr 26, 2007

Mr. President, I ask unanimous consent that the text of the bill be printed in the Reord. Mr. President, I rise today to introduce the Campus Law Enforcement Emergency Response Act of 2007. This…

Edward M. Kennedy
Sen. Edward M. KennedyD-MA · Apr 26, 2007

Mr. President, today I am pleased to introduce the Protecting America's Workers Act. This week, on Workers' Memorial Day, we remember those who have been killed or injured on the job, and we reaffirm…

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Benjamin L. Cardin
Sen. Benjamin L. CardinD-MD · Apr 26, 2007

Mr. President, today I am introducing legislation that will improve mutual aid agreements for the National Capitol Region. Senators Mikulski and Warner are original co-sponsors of my bill. The…

Larry E. Craig
Sen. Larry E. CraigR-ID · Apr 26, 2007

Mr. President, I rise today as the Ranking Member of the Senate Committee on Veterans' Affairs to join my distinguished colleague, Senator Akaka, who serves as the Chairman of the Committee, in…

Jon Tester
Sen. Jon TesterD-MT · Apr 26, 2007

Mr. President, I rise here today to introduce the Biofuel Crop Insurance Act to provide a safety net to innovative American farmers. America's addiction to foreign oil is one of the greatest threats…

Jack Reed
Sen. Jack ReedD-RI · Apr 26, 2007

Mr. President, today I am introducing the Preparing, Recruiting, and Retaining Education Professionals (PRREP) Act to improve education and student achievement through high-quality preparation,…

Joseph I. Lieberman
Sen. Joseph I. LiebermanD-CT · Apr 26, 2007

Mr. President, today, Senator Brownback, Senator Akaka, and I are introducing legislation that establishes a wildlife global animal information network for surveillance to enhance preparedness and…

Hillary Rodham Clinton
Sen. Hillary Rodham ClintonD-NY · Apr 26, 2007

Mr. President, in recognition of National Crime Victim's Week, I am proud to reintroduce the ``Compassionate Assistance for Rape Emergencies Act,'' a bill that will help rape and incest survivors…

Frank R. Lautenberg
Sen. Frank R. LautenbergD-NJ · Apr 26, 2007

Mr. President, I am pleased to introduce the Stop Business With Terrorists Act of 2007. Senator Clinton is joining me as an original cosponsor of this important bill. This bill will shut down a…

Chuck Grassley
Sen. Chuck GrassleyR-IA · Apr 26, 2007

Mr. President, I ask unanimous consent that a bill introduced by me today to amend the Internal Revenue Code of 1986 to clarify student housing eligible for the low-income housing credit, and for…

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Chuck Grassley
Sen. Chuck GrassleyR-IA · Apr 26, 2007

Mr. President, I ask unanimous consent that a bill introduced by me today to amend the Internal Revenue Code of 1986 to clarify student housing eligible for the low-income housing credit, and for…

Bill Text

Latest available legislative text

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Introduced in SenateIssued April 26, 2007

II

110th CONGRESS

1st Session

S. 1241

IN THE SENATE OF THE UNITED STATES

April 26, 2007

Mr. Grassley introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to clarify student housing eligible for the low-income housing credit, and for other purposes.

1.

Clarification of student housing eligible for low-income housing credit

(a)

In general

Subclause (I) of section 42(i)(3)(D)(ii) of the Internal Revenue Code of 1986 (relating to certain students not to disqualify unit) is amended to read as follows:

(I)

single parents and their children and such parents are not dependents (as defined in section 152, determined without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof) of another individual and such children are not dependents (as so defined) of another individual other than a parent of such children, or

.

(b)

Effective date

The amendment made by this section shall apply to—

(1)

housing credit amounts allocated before, on, or after the date of the enactment of this Act, and

(2)

buildings placed in service before, on, or after such date to the extent paragraph (1) of section 42(h) of the Internal Revenue Code of 1986 does not apply to any building by reason of paragraph (4) thereof.