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United States · Bill · HR

H.R. 3106 (96th)

A bill to amend the Internal Revenue Code of 1954 to subject foreign investors to the capital gains tax on gain from the sale or exchange of certain farmland and other rural land located in the United States.

referredUnited States· United States Congress· EN

Introduced

20 March 1979

Last action

20 March 1979 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Sen. Grassley, Chuck [R-IA], Sen. Abdnor, James [R-SD], Rep. Albosta, Donald J. [D-MI-10], Rep. Alexander, Bill [D-AR-1], Sen. Andrews, Mark [R-ND], Rep. Ashbrook, John M. [R-OH-17], Rep. Atkinson, Eugene V. [D-PA-25], Rep. AuCoin, Les [D-OR-1], Rep. Badham, Robert E. [R-CA-40], Rep. Bafalis, L. A. (Skip) [R-FL-10], Rep. Bailey, Donald A. [D-PA-21], Rep. Baldus, Alvin J. [D-WI-3], Rep. Bauman, Robert E. [R-MD-1], Rep. Beard, Robin [R-TN-6], Rep. Bedell, Berkley W. [D-IA-6], Rep. Benjamin, Adam, Jr. [D-IN-1], Rep. Bennett, Charles E. [D-FL-3], Rep. Bereuter, Doug [R-NE-1], Rep. Bevill, Tom [D-AL-4], Rep. Lloyd, Marilyn [D-TN-3], Rep. Brown, Clarence, Jr. [R-OH-7], Rep. Buchanan, John [R-AL-6], Rep. Burgener, Clair W. [R-CA-43], Rep. Burton, John [D-CA-5], Rep. Butler, M. Caldwell [R-VA-6], Rep. Cavanaugh, John J. [D-NE-2], Rep. Chappell, Bill, Jr. [D-FL-4], Rep. Cheney, Dick [R-WY-At Large], Rep. Clausen, Don H. [R-CA-2], Rep. Cleveland, James C. [R-NH-2], Rep. Clinger, William F., Jr. [R-PA-5], Rep. Coleman, E. Thomas [R-MO-6], Rep. Corcoran, Tom [R-IL-14], Rep. Coelho, Anthony Lee [D-CA-15], Rep. Conte, Silvio O. [R-MA-1], Rescom. Corrada, Baltasar [I-PR-At Large], Rep. Crane, Daniel B. [R-IL-19], Rep. Dannemeyer, William E. [R-CA-39], Rep. Daniel, W. C. (Dan) [D-VA-5], Rep. Danielson, George E. [D-CA-30], Sen. Daschle, Thomas A. [D-SD], Rep. Derwinski, Edward J. [R-IL-4], Rep. Dornan, Robert K. [R-CA-46], Rep. Edgar, Robert W. [D-PA-7], Rep. Edwards, Mickey [R-OK-5], Rep. English, Glenn [D-OK-6], Rep. Evans, Billy Lee [D-GA-8], Del. Evans, Melvin H. [R-VI-At Large]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to subject nonresident aliens and foreign corporations to a tax on the gain from the sale or exchange of farm or rural lands situated in the United States. Requires foreign corporations which hold United States farm lands comprising 20 percent of their assets to make reports on such holdings as the Secretary of the Treasury may require.

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

Timeline

  1. 20 March 1979

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 20 March 1979

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 20 March 1979

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

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Related records

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Sources

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