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Changes wording in the tax code that governs accounting for construction contracts by replacing the term “home construction contract” with “residential construction contract” and updating related cross‑references; also updates the alternative minimum tax reference to use the new term. The edits are technical and apply only to contracts entered into after the law takes effect.
Read twice and referred to the Committee on Finance.
Introduced May 8, 2025 by Todd Young · Last progress 10 months ago