Fair Accounting for Condominium Construction Act

This bill in the 119th Congress aims to amend the Internal Revenue Code of 1986 by providing an exception to the percentage of completion method of accounting specifically for certain residential construction contracts. Introduced on May 8, 2025, the bill, as per its title, appears to focus on addressing accounting methods within the construction sector, possibly to streamline or modify how income and expenses are recognized in this specific industry segment.