Securitization Enhancement Act of 1995

Summary

Securitization Enhancement Act of 1995 - Amends the Internal Revenue Code to exempt from taxation Financial Asset Securitization Investment Trusts (FASIT) and prohibit the treatment of FASITs as trusts, partnerships, corporations, or taxable mortgage pools. Directs the holder of an ownership interest in a FASIT to take into account the holder's daily portion of the taxable income or net loss of such FASIT for each day during the taxable year on which such holder held such interest. Provides that gains and losses shall not be recognized to the transferor or the FASIT in a qualified exchange. Disregards for all Federal tax purposes the transfer or issuance of an ownership interest or a permitted debt instrument to a disqualified holder.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 29 June 1995

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• Introduced in House (PDF)

  Introduced in House · EN · 29 June 1995

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• Introduced in House

  summary · EN · 29 June 1995

  Open at official source

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