United States · Bill · HR
H.R. 1553 (99th)
First Things First Credit Act of 1985
Introduced
19 March 1985
Last action
—
Status
Referred to House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
29 August 2025
Summary
First Things First Credit Act of 1985 - Amends the Internal Revenue Code to disallow an income tax deduction for interest paid or incurred on any loan which is used to acquire control of a corporation which has more than $250,000,000 in gross receipts for the year preceding the year of the acquisition.
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Timeline
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Votes
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Versions
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Documents
1 official file
Introduced in House
summary · EN · 19 March 1985
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/99th-congress/house-bill/1553
- Open data entity: https://api.congress.gov/v3/bill/99/hr/1553