A bill to amend the Internal Revenue Code of 1954 to subject foreign investors to the capital gains tax on gain from the sale or exchange of certain farmland and other rural land located in the United States.

Summary

Amends the Internal Revenue Code to subject nonresident aliens and foreign corporations to a tax on the gain from the sale or exchange of farm or rural lands situated in the United States. Requires foreign corporations which hold United States farm lands comprising 20 percent of their assets to make reports on such holdings as the Secretary of the Treasury may require.

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

Timeline

1. 22 January 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 22 January 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 22 January 1981

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 22 January 1981

  Open at official source

Sponsors

• Rep. Hinson, Jon C. [R-MS-4] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to subject foreign investors to the capital gains tax on gain from the sale or exchange of certain farmland and other rural land located in the United States.