A bill to permit certain cooperative and condominium associations to accrue without tax liability, a portion of dues and other income received for the purposes of maintaining and caring for its property and for other purposes.

[AI summary unavailable — showing source text] Provides, under the Internal Revenue Code, an income tax exemption to cooperative housing associations. Defines cooperative housing associations as cooperative housing corporations, condominuims, or residential real estate management associations. Defines cooperative housing association taxable income.…