A bill to amend section 4940 of the Internal Revenue Code of 1954 with respect to private operating foundations the principal activity of which is the operation of long-term care facilities.

Summary

Amends the Internal Revenue Code to reduce the excise tax imposed on operating foundations whose principle activity is the operation of long-term care facilities, from four to two percent of their net investment income.

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

Timeline

1. 4 January 1977

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 4 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 4 January 1977

   Introduced

   Introduced in House

   Source: IntroReferral

4. 19 January 1978

   Reported

   Reported to House from the Committee on Ways and Means with amendment, H. Rept. 95-842.

   Source: Committee

5. 19 January 1978

   Reported

   Reported to House from the Committee on Ways and Means with amendment, H. Rept. 95-842.

   Source: Committee

6. 28 February 1978

   Floor

   Measure called up under motion to suspend rules and pass in House.

   Source: Floor

7. 28 February 1978

   Passed

   Measure passed House, amended.

   Source: Floor

8. 28 February 1978

   Passed

   Passed/agreed to in House: Measure passed House, amended.

   Source: Floor

9. 1 March 1978

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

10. 9 May 1978

    Reported

    Reported to Senate from the Committee on Finance, S. Rept. 95-790.

    Source: Committee

11. 9 May 1978

    Reported

    Reported to Senate from the Committee on Finance, S. Rept. 95-790.

    Source: Committee

12. 23 August 1978

    Floor

    Call of calendar in Senate.

    Source: Floor

13. 23 August 1978

    Passed

    Passed/agreed to in Senate: Measure passed Senate, amended.

    Source: Floor

Votes

No vote records are attached yet.

Versions

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

Documents

2 official files

• Passed Senate amended

  summary · EN · 23 August 1978

  Open at official source

• Introduced in House

  summary · EN · 4 January 1977

  Open at official source

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Sponsors

• Rep. Burleson, Omar [D-TX-17] · D · Sponsor
• Sen. Armstrong, William L. [R-CO] · R · Cosponsor
• Rep. Jones, James R. [D-OK-1] · D · Cosponsor
• · ssfi00 · Standing
• · hswm00 · Standing

Related records

• related to → A resolution providing for the agreeing to the Senate amendments to the bill (H.R. 112) to amend the Internal Revenue Code of 1954 to reduce the excise tax on the investment income of private foundations from 4 percent to 2 percent.
• related to → A resolution providing for the consideration of the Senate amendments to H.R. 112.