To amend section 355 of the Internal Revenue Code of 1986 to prevent the avoidance of corporate tax on prearranged sales of corporate stock, and for other purposes.

Summary

Amends the Internal Revenue Code to regulate the recognition of gain when there is a distribution of stock or securities that is part of a plan (or series of related transactions) pursuant to which a person acquires stock representing a 50 percent or greater interest in the distributing corporation or any controlled corporation (or any successor of either). Presumes the existence of such a plan in certain circumstances (unless disproved).

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

Timeline

1. 17 April 1997

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 17 April 1997

   Introduced

   Sponsor introductory remarks on measure. (CR E702-703)

   Source: IntroReferral

3. 17 April 1997

   Introduced

   Introduced in House

   Source: IntroReferral

4. 17 April 1997

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 April 1997 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 April 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 April 1997

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 17 April 1997

  Open at official source

Sponsors

• Rep. Archer, Bill [R-TX-7] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend section 355 of the Internal Revenue Code of 1986 to prevent the avoidance of corporate tax on prearranged sales of corporate stock, and for other purposes.