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H.R. 2759: Fair Accounting for Condominium Construction Act

This bill, titled the Fair Accounting for Condominium Construction Act, proposes changes to how certain types of residential construction contracts are accounted for under the Internal Revenue Code. Here are the key points of the bill:

Purpose of the Bill

The primary aim of the bill is to provide an exception to the existing accounting method known as the percentage of completion method for specific residential construction contracts. This method is typically used by builders to report income based on the progress of a project rather than recognizing the entire income once the project is completed.

Changes to the Internal Revenue Code

  • Clause Modification: The bill seeks to amend Section 460 of the Internal Revenue Code. It changes the terminology from home construction contract to residential construction contract.
  • Adjustments to Timeframes: For residential construction contracts that do not fit the description of home construction contracts, a longer timeframe of up to three years will be allowed for accounting purposes instead of the current two-year limitation.
  • Alternative Minimum Tax Application: The amendments will also affect how these contracts are treated under the alternative minimum tax by updating relevant references in the law.
  • Implementation Date: The changes would apply to contracts that are entered into after the bill becomes law.

Implications

The updated accounting rules could impact the financial reporting and tax liabilities of builders and developers involved in residential construction. By allowing a longer computation period for income recognition, the changes may influence cash flow and tax strategies for those in the construction industry.

Relevant Companies

  • KBH - KB Home, a major homebuilder, would likely be affected as this bill may change how it recognizes income from its residential projects.
  • DHI - D.R. Horton, Inc., known for residential construction, may adjust its accounting practices based on the provisions of this bill.
  • PHM - PulteGroup, Inc. might also see changes in its accounting for residential construction contracts due to the extended timeframe allowed for revenue recognition.

This is an AI-generated summary of the bill text. There may be mistakes.

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Sponsors

1 sponsor

Actions

2 actions

Date Action
Apr. 09, 2025 Introduced in House
Apr. 09, 2025 Referred to the House Committee on Ways and Means.

Corporate Lobbying

0 companies lobbying

None found.

* Note that there can be significant delays in lobbying disclosures, and our data may be incomplete.

Potentially Relevant Congressional Stock Trades

Estimated excess return of the underlying stock since the transaction
Politician Stock Transaction Filed Traded
Congress pfp
Ro Khanna D / House
PHM logo
PHM PULTEGROUP INC. CMN
Sale $1,001 - $15,000
Jul 09, 2025 Jun 23, 2025 -0.62%
Congress pfp
Ro Khanna D / House
PHM logo
PHM PULTEGROUP INC. CMN
Sale $1,001 - $15,000
Jun 10, 2025 May 19, 2025 -0.08%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Jun 10, 2025 May 19, 2025 -0.01%
Congress pfp
Jefferson Shreve R / House
PHM logo
PHM PULTEGROUP, INC. COMMON STOCK
Sale $15,001 - $50,000
Jun 22, 2025 May 12, 2025 -5.66%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Purchase $1,001 - $15,000
May 14, 2025 Apr 21, 2025 -12.99%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Sale $1,001 - $15,000
May 12, 2025 Apr 09, 2025 -6.81%
Congress pfp
Robert Bresnahan R / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Purchase $1,001 - $15,000
May 08, 2025 Apr 08, 2025 -11.80%
Congress pfp
Kelly Morrison D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Sale $1,001 - $15,000
Apr 11, 2025 Mar 20, 2025 -10.41%
Congress pfp
Kelly Morrison D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Sale $1,001 - $15,000
Apr 11, 2025 Mar 20, 2025 -10.41%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Sale $1,001 - $15,000
Apr 10, 2025 Mar 19, 2025 -9.57%
Congress pfp
Ro Khanna D / House
PHM logo
PHM PULTEGROUP INC. CMN
Purchase $1,001 - $15,000
Apr 10, 2025 Mar 12, 2025 -7.34%
Congress pfp
Ro Khanna D / House
PHM logo
PHM PULTEGROUP INC. CMN
Purchase $1,001 - $15,000
Mar 06, 2025 Feb 25, 2025 -3.30%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Sale $1,001 - $15,000
Mar 06, 2025 Feb 25, 2025 -5.82%
Congress pfp
Robert Bresnahan R / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Sale $1,001 - $15,000
Mar 27, 2025 Feb 25, 2025 -5.82%
Congress pfp
Jefferson Shreve R / House
PHM logo
PHM PULTEGROUP, INC. COMMON STOCK
Purchase $15,001 - $50,000
Mar 09, 2025 Feb 24, 2025 +1.78%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Sale $1,001 - $15,000
Mar 06, 2025 Feb 13, 2025 -1.00%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Sale $1,001 - $15,000
Feb 06, 2025 Jan 22, 2025 -13.76%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Feb 06, 2025 Jan 17, 2025 -15.73%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Purchase $1,001 - $15,000
Feb 10, 2025 Jan 16, 2025 -16.10%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Sale $1,001 - $15,000
Jan 14, 2025 Dec 16, 2024 -14.14%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Dec 05, 2024 Nov 15, 2024 -25.58%
Congress pfp
Ro Khanna D / House
PHM logo
PHM PULTEGROUP INC. CMN
Purchase $1,001 - $15,000
Dec 05, 2024 Nov 15, 2024 -22.83%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Purchase $1,001 - $15,000
Dec 05, 2024 Nov 01, 2024 -31.28%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Sale $1,001 - $15,000
Nov 08, 2024 Oct 14, 2024 -36.98%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Sep 06, 2024 Aug 02, 2024 -43.56%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Purchase $1,001 - $15,000
Aug 15, 2024 Jul 31, 2024 -40.78%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Purchase $1,001 - $15,000
Aug 15, 2024 Jul 19, 2024 -38.53%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Sale $1,001 - $15,000
Aug 07, 2024 Jul 02, 2024 -16.87%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Sale $1,001 - $15,000
Aug 07, 2024 Jul 01, 2024 -18.90%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Sale $1,001 - $15,000
Jul 09, 2024 Jun 18, 2024 -19.86%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Jun 05, 2024 May 29, 2024 -26.05%
Congress pfp
Ro Khanna D / House
PHM logo
PHM PULTEGROUP INC. CMN
Sale $1,001 - $15,000
Jun 05, 2024 May 29, 2024 -22.72%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Jun 05, 2024 May 28, 2024 -26.17%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Sale $1,001 - $15,000
May 06, 2024 Apr 26, 2024 -32.79%
Congress pfp
Ro Khanna D / House
PHM logo
PHM PULTEGROUP INC. CMN
Purchase $1,001 - $15,000
May 06, 2024 Apr 26, 2024 -28.00%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Sale $1,001 - $15,000
May 06, 2024 Apr 23, 2024 -35.08%
Congress pfp
Tommy Tuberville R / Senate
PHM logo
PHM PulteGroup, Inc. Common Stock
Sale (Full) $1,001 - $15,000
May 15, 2024 Apr 04, 2024 -26.91%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Apr 05, 2024 Mar 20, 2024 -37.14%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Purchase $1,001 - $15,000
Apr 07, 2024 Mar 14, 2024 -34.22%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC. COMMON STOCK
Purchase $1,001 - $15,000
Apr 07, 2024 Mar 07, 2024 -37.04%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Feb 05, 2024 Jan 10, 2024 -46.44%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Feb 05, 2024 Jan 10, 2024 -46.44%
Congress pfp
Josh Gottheimer D / House
DHI logo
DHI D.R. HORTON, INC.
Purchase $1,001 - $15,000
Jan 07, 2024 Dec 11, 2023 -41.00%
Congress pfp
Tommy Tuberville R / Senate
PHM logo
PHM PulteGroup, Inc. Common Stock
Purchase $1,001 - $15,000
Nov 16, 2023 Oct 17, 2023 +3.90%
Congress pfp
Ro Khanna D / House
DHI logo
DHI D.R. HORTON, INC. CMN
Purchase $1,001 - $15,000
Nov 08, 2023 Oct 02, 2023 -22.79%
Congress pfp
Ro Khanna D / House
DHI logo
DHI #NAME?
Sale $1,001 - $15,000
Aug 07, 2023 Jul 28, 2023 -34.07%