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Fair Accounting for Condominium Construction Act
6/6/2025, 6:26 PM
Summary of Bill S 1687
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.
Read the Full Bill
Current Status of Bill S 1687
Bill S 1687 is currently in the status of Bill Introduced since May 8, 2025. Bill S 1687 was introduced during Congress 119 and was introduced to the Senate on May 8, 2025. Bill S 1687's most recent activity was Read twice and referred to the Committee on Finance. as of May 8, 2025
Bipartisan Support of Bill S 1687
Total Number of Sponsors
4Democrat Sponsors
0Republican Sponsors
4Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill S 1687
Primary Policy Focus
TaxationAlternate Title(s) of Bill S 1687
A bill to amend the Internal Revenue Code of 1986 to provide an exception to percentage of completion method of accounting for certain residential construction contracts.
A bill to amend the Internal Revenue Code of 1986 to provide an exception to percentage of completion method of accounting for certain residential construction contracts.
Comments
Tucker Richards
428
7 months ago
I think this bill is good because it helps with construction stuff. I don't know all the details about it, but it sounds like it could be helpful for some people. I hope it passes and helps make things better for everyone. #UnitedStatesSBill1687 #ConstructionContracts #TaxCode #Supportive
Sponsors and Cosponsors of S 1687
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