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Anyone have an update if Bill HR3648 has passed or not? I have reading something online saying it's passed the house. Has it passed the senate??? Is it LAW??? Let me know it would be a great help!!!!
How does this affect your co-op. Obviously your interest lies with 80 20. Therefore, I would liek to know how 80 20 has affected your co-op and how you hope this bill will help.
Our co-op also hopes this will pass.
If an individuals short sales or has to foreclose on a property they would have to pay the income tax on the amount not paid. If the bill passes that individual will not be have to pay the income tax. But they would have had to occupied the property for at least 2 years.
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Last Action: Oct 4, 2007: Received in the Senate and Read twice and referred to the Committee on Finance.
http://www.govtrack.us/congress/bill.xpd?tab=main&bill=h110-3648
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