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United States · Bill · HR

H.R. 2883 (97th)

A bill to amend the Internal Revenue Code of 1954 to clarify the tax exemption for interest on obligations of volunteer fire departments.

referredUnited States· United States Congress· EN

Introduced

26 March 1981

Last action

26 March 1981 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Evans, David W. [D-IN-6], Rep. Smith, Christopher H. [R-NJ-4], Rep. Bafalis, L. A. (Skip) [R-FL-10], Rep. Panetta, Leon [D-CA-16], Rep. Forsythe, Edwin B. [R-NJ-6], Rep. Jones, Walter B. [D-NC-1], Rep. Holland, Kenneth L. [D-SC-5], Rep. Winn, Larry, Jr. [R-KS-3], Rep. Railsback, Thomas F. [R-IL-19], Rep. McEwen, Bob [R-OH-6], Rep. Lent, Norman F. [R-NY-4], Rep. Quillen, James H. (Jimmy) [R-TN-1], Rep. St Germain, Fernand J. [D-RI-1], Rep. Fountain, L. H. [D-NC-2], Rep. Smith, Albert L., Jr. [R-AL-6], Rep. Duncan, John J. [R-TN-2], Del. Won Pat, Antonio B. [D-GU-At Large], Rep. Coelho, Anthony Lee [D-CA-15], Rep. Walker, Robert S. [R-PA-16], Rep. Vento, Bruce F. [D-MN-4], Rep. Dyson, Roy [D-MD-1], Rep. Weber, Vin [R-MN-2], Sen. Simon, Paul [D-IL], Rep. Murphy, Austin J. [D-PA-20], Rep. Scheuer, James H. [D-NY-8], Rep. Petri, Thomas E. [R-WI-6], Rep. Downey, Thomas J. [D-NY-2], Rep. Solomon, Gerald B. H. [R-NY-22], Rep. Hughes, William J. [D-NJ-2], Rep. Ottinger, Richard L. [D-NY-20], Rep. Gingrich, Newt [R-GA-6], Rep. Bailey, Donald A. [D-PA-21], Rep. LaFalce, John J. [D-NY-29], Rep. Williams, Lyle [R-OH-17], Rep. Neal, Stephen L. [D-NC-5], Rep. Tauke, Thomas Joseph [R-IA-2], Rep. Whitehurst, G. William [R-VA-2], Rep. Miller, Clarence E. [R-OH-10], Rep. Rudd, Eldon D. [R-AZ-4], Rep. Burton, John [D-CA-5], Rep. Bedell, Berkley W. [D-IA-6], Rep. Roemer, Buddy [D-LA-4], Rep. Roe, Robert A. [D-NJ-8], Rep. Lundine, Stanley N. [D-NY-34], Rep. Martin, David O'B. [R-NY-26]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to provide that bonds issued by a volunteer fire department to finance the acquisition, construction, reconstruction, or improvement of firefighting property shall be treated as obligations of a local government and the interest on such bonds shall be excluded from gross income. Provides that a volunteer fire department qualifies for such tax treatment of its bonds if it: (1) is organized and operated to provide firefighting services in an area which does not have any other firefighting services; (2) is required by a local government to furnish firefighting services; (3) receives over half of its funding from local government; and (4) makes no charge for its services.

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

Timeline

  1. 26 March 1981

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 26 March 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 26 March 1981

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

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Sponsors

Related records

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Sources

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