To amend the Internal Revenue Code of 1986 to allow income from the sale of certain used automobiles to be computed on the installment sales method, and for other purposes.

Summary

Amends accounting provisions of the Internal Revenue Code to permit licensed used automobile dealers to use the installment method in connection with retail sales of any automobile that is more than three years old at the time of the sale if: (1) the sales price is $6,000 or less; and (2) the installment obligation arises solely from the sale in question and has a term of 36 months or less.

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

Timeline

1. 18 April 1989

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 18 April 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 April 1989

   Introduced

   Introduced in House

   Source: IntroReferral

4. 21 February 1990

   Referred

   Referred to the Subcommittee on Select Revenue Measures.

   Source: Committee

5. 21 February 1990

   Committee

   Subcommittee Hearings Held.

   Source: Committee

6. 22 February 1990

   Committee

   Subcommittee Hearings Held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · — · Download file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 18 April 1989

  Open at official source

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Sponsors

• Rep. Jenkins, Edgar L. [D-GA-9] · D · Sponsor
• Rep. McCollum, Bill [R-FL-8] · R · Cosponsor
• Rep. Bates, Jim [D-CA-44] · D · Cosponsor
• Rep. Bustamante, Albert G. [D-TX-23] · D · Cosponsor
• Rep. James, Craig T. [R-FL-4] · R · Cosponsor
• Rep. Matsui, Robert T. [D-CA-5] · D · Cosponsor
• Rep. Chapman, Jim [D-TX-1] · D · Cosponsor
• Rep. Ireland, Andrew P. [R-FL-10] · R · Cosponsor
• Del. de Lugo, Ron [D-VI-At Large] · D · Cosponsor
• Rep. Dwyer, Bernard J. [D-NJ-6] · D · Cosponsor
• Rep. Roe, Robert A. [D-NJ-8] · D · Cosponsor
• Rep. Hancock, Mel [R-MO-7] · R · Cosponsor
• Rep. Paxon, Bill [R-NY-27] · R · Cosponsor
• Sen. Nelson, Bill [D-FL] · D · Cosponsor
• Rep. Martinez, Matthew G. [D-CA-31] · D · Cosponsor
• Rep. Marlenee, Ron [R-MT-2] · R · Cosponsor
• Rep. Fascell, Dante B. [D-FL-19] · D · Cosponsor
• Rep. Barnard, Doug, Jr. [D-GA-10] · D · Cosponsor
• Rep. Whittaker, Bob [R-KS-5] · R · Cosponsor
• Rep. Baker, Richard H. [R-LA-6] · R · Cosponsor
• Rep. Crockett, George W., Jr. [D-MI-13] · D · Cosponsor
• Rep. Schaefer, Dan [R-CO-6] · R · Cosponsor
• Rep. Vander Jagt, Guy [R-MI-9] · R · Cosponsor
• Rep. Clement, Bob [D-TN-5] · D · Cosponsor
• Rep. Gordon, Bart [D-TN-6] · D · Cosponsor
• Rep. Harris, Claude [D-AL-7] · D · Cosponsor
• Rep. Wilson, Charles [D-TX-2] · D · Cosponsor
• Rep. de la Garza, E. [D-TX-15] · D · Cosponsor
• Rep. Smith, Lawrence [D-FL-16] · D · Cosponsor
• Rep. Tallon, Robert M. (Robin) [D-SC-6] · D · Cosponsor
• Rep. Whitten, Jamie L. [D-MS-1] · D · Cosponsor
• Rep. Pickle, J. J. [D-TX-10] · D · Cosponsor
• Rep. Towns, Edolphus [D-NY-10] · D · Cosponsor
• Rep. Lewis, Thomas F. [R-FL-12] · R · Cosponsor
• Rep. Thomas, Lindsay [D-GA-1] · D · Cosponsor
• Rep. Johnston, Harry [D-FL-19] · D · Cosponsor
• Rep. Jones, Ben [D-GA-4] · D · Cosponsor
• Rep. Darden, George (Buddy) [D-GA-7] · D · Cosponsor
• Rep. Derrick, Butler C. [D-SC-3] · D · Cosponsor
• Rep. Hutto, Earl [D-FL-1] · D · Cosponsor
• Rep. Lagomarsino, Robert J. [R-CA-19] · R · Cosponsor
• Rep. Fish, Hamilton, Jr. [R-NY-19] · R · Cosponsor
• Rep. Stearns, Cliff [R-FL-6] · R · Cosponsor
• Rep. Dickinson, William L. [R-AL-2] · R · Cosponsor
• Rep. Rahall, Nick J., II [D-WV-3] · D · Cosponsor
• Rep. Schroeder, Patricia [D-CO-1] · D · Cosponsor
• Rep. Mollohan, Alan B. [D-WV-1] · D · Cosponsor
• Rep. Tauzin, W. J. (Billy) [R-LA-3] · D · Cosponsor

Showing 48 of 74 sponsors and actors.

Related records

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