A bill to amend the Internal Revenue Code of 1954 to provide, for purposes of determining the unrelated business taxable income of certain tax-exempt organizations and trusts, that such income does not include gains or losses from the sale of certain real property to the lessee of such property.

Summary

Amends the Internal Revenue Code to exclude from the determination of the unrelated business income of certain tax-exempt organizations gains and losses from the sale of real property to long term lessees if such sale is treated under local law as an involuntary conversion.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 30 November 1977

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 30 November 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 30 November 1977

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 30 November 1977

  Open at official source

Sponsors

• Rep. Heftel, Cecil [D-HI-1] · D · Sponsor
• · hswm00 · Standing

Related records

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