Expiring Tax Provisions: Hearing Before the Subcommittee on Taxation and Debt Management of the Committee on Finance, United States Senate, One Hundredth Congress, Second Session, March 28, 1988, Volume 4U.S. Government Printing Office, 1989 - 481 pages |
Contents
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Common terms and phrases
amount areas assisted buyers average bank benefits bond financing bond-assisted builder Chairman CHFA Code Committee Congress conventional loan Corporation cost December 31 displaced homemakers dollars downpayment eligible employees employment enacted ESOP estimates exemption expire extend families FDIC federal first-time buyers first-time home first-time homebuyers FSLIC tax funds GAO's geothermal group legal services hired homeownership households housing agencies housing finance agencies increase interest rate Internal Revenue Code Jobs Tax Credit legal service plans legislation limited Maine State Housing March 28 median income million MONTGOMERY COUNTY Mortgage Credit Certificates mortgage revenue bonds MRB program N/A N/A ownership payments percent problem purchase price qualified mortgage bonds reduce renters revenue bond program Rhode Island savings Section 120 Senator BAUCUs subsidy Targeted Jobs Tax tax provisions Tax Reform Act tax-exempt bonds taxable taxicabs taxpayer Thank thrift institutions TJTC troubled thrift workers
Popular passages
Page 55 - ... definitely be allocated to some item or class of gross income. The remainder, if any, shall be included in full as net income from sources within the United States.
Page 89 - ... by the Comptroller of the Currency, in the case of national banks, or by the appropriate State officials, in the case of State member banks...
Page 71 - ... prior to the satisfaction of all liabilities with respect to employees and their beneficiaries under the trust, for any part of the corpus or income to be (within the taxable year or thereafter) used for, or diverted to, purposes other than for the exclusive benefit of his employees or their beneficiaries...
Page 61 - In the case of an individual who owns an interest in an unincorporated trade or business, who is a beneficiary of a trust or estate, who is a partner in a partnership, or who is a shareholder in a...
Page 234 - The employer's deduction for wages is reduced by the amount of the credit.
Page 67 - ... may elect to exchange qualified mortgage bond authority for authority to issue mortgage credit certificates (MCCs) (sec. 25). MCCs entitle homebuyers to nonrefundable income tax credits for a specified percentage of interest paid on mortgage loans on their principal residences. Once issued, an MCC remains in effect as long as the residence being financed continues to be the certificate-recipient's principal residence. MCCs are generally subject to the same eligibility and targeted area requirements...
Page 448 - NIK real rents (measured in constant 1986 dollars) have moved up sharply since 1981 and now stand at their highest level in over two decades. Rising rents have led to an increasing share of households paying 30, 40, or even 50 percent of their incomes for rents, if they can secure housing at all. For decades, improving housing conditions has been an important component in the upward mobility of American families and individuals. For many, moving from renter to owner occupied housing is a key step...
Page 462 - Elderly households continue to devote relatively large shares of their income to rent, but unlike their younger counterparts, the real income of elderly renters has not declined sharply. Indeed, elderly marriedcouple households enjoyed a slight increase in real income thanks to the indexation of Social Security payments against ineation.
Page 332 - Citibank, NA, Chemical Bank, Morgan Guaranty Trust Company of New York, Manufacturers Hanover Trust Company, Irving Trust Company, Bankers Trust Company, Marine Midland Bank, NA, United States Trust Company of New York, National Westminster Bank USA and European American Bank.
Page 463 - Housing problems for this group are especially acute in lowdensity rural areas where the lack of a welldeveloped rental housing market results in high shares of households owning substandard housing. Although more careful targeting could make better use of existing housing assistance resources, the development of new program initiatives and the expansion of national housing assistance resources arc needed if the nation is to improve the housing conditions of both low-income owners and renters.