A bill to amend the Internal Revenue Code of 1954 to provide that cooperative housing corporations and condominium owners' or homeowners' associations will not be taxed on receipt of membership income.

[AI summary unavailable — showing source text] Provides, under the Internal Revenue Code, an exclusion from the income tax for income of condominium housing associations, homeowner associations, and cooperative housing corporations operated for the management, maintenance, landscaping, and repair of common areas and dwellings.…