To amend the Internal Revenue Code of 1986 to simplify and make more equitable the tax treatment of Settlement Trusts established pursuant to the Alaska Native Claims Settlement Act.

Summary

Amends the Internal Revenue Code (IRC) to impose on an electing Alaska Native Settlement Trust, other than its net capital gain, the lowest rate of tax imposed by section one of the IRC (currently, 15 percent). Provides that in the case of an electing Settlement Trust with a net capital gain for the taxable year, a tax is imposed on such gain at the rate of tax which would apply to such gain if the taxpayer were subject to a tax on its other taxable income at only the lowest rate. Provides for the tax treatment of distributions to beneficiaries. Sets forth information reporting requirements.

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Timeline

1. 2 May 2001

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 2 May 2001

   Introduced

   Introduced in House

   Source: IntroReferral

3. 2 May 2001

   Introduced

   Introduced in House

   Source: IntroReferral

4. 3 May 2001

   Introduced

   Sponsor introductory remarks on measure. (CR E725)

   Source: IntroReferral

5. 22 May 2001

   Introduced

   Sponsor introductory remarks on measure. (CR E888)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 2 May 2001 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 May 2001

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 2 May 2001

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 2 May 2001

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  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Young, Don [R-AK-At Large] · R · Sponsor
• Rep. Hansen, James V. [R-UT-1] · R · Sponsor
• Rep. Rahall, Nick J., II [D-WV-3] · D · Sponsor
• Rep. Miller, George [D-CA-11] · D · Sponsor
• Rep. Houghton, Amo [R-NY-31] · R · Sponsor
• Rep. Rangel, Charles B. [D-NY-15] · D · Sponsor
• Rep. Foley, Mark [R-FL-16] · R · Sponsor
• Rep. Kildee, Dale E. [D-MI-5] · D · Sponsor
• Rep. McInnis, Scott [R-CO-3] · R · Sponsor
• Rep. Kennedy, Patrick J. [D-RI-1] · D · Sponsor
• Rep. Camp, Dave [R-MI-4] · R · Sponsor
• Rep. Abercrombie, Neil [D-HI-1] · D · Sponsor
• Rep. Hayworth, J. D. [R-AZ-5] · R · Sponsor
• Rep. Bono, Mary [R-CA-44] · R · Sponsor
• Rep. Frost, Martin [D-TX-24] · D · Sponsor
• Rep. Stupak, Bart [D-MI-1] · D · Sponsor
• Del. Faleomavaega, Eni F. H. [D-AS-At Large] · D · Sponsor
• Sen. Udall, Mark [D-CO] · D · Sponsor
• Rep. Pallone, Frank [D-NJ-6] · D · Sponsor
• Rep. Souder, Mark E. [R-IN-3] · R · Cosponsor
• Rep. Watkins, Wes [R-OK-3] · R · Cosponsor
• · hswm00 · Standing

Related records

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