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United States · Bill · HR

H.R. 3439 (111th)

Close the SILO/LILO Loophole Act of 2009

referredUnited States· United States Congress· EN

Introduced

31 July 2009

Last action

31 July 2009 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Lewis, John [D-GA-5], Rep. Davis, Danny K. [D-IL-7], Rep. Pascrell, Bill, Jr. [D-NJ-9], Rep. Moran, James P. [D-VA-8], Rep. Lofgren, Zoe [D-CA-18], Rep. Matsui, Doris O. [D-CA-7], Rep. Hill, Baron P. [D-IN-9], Rep. Johnson, Henry C. "Hank" [D-GA-4], Rep. Clay, Wm. Lacy [D-MO-1], Rep. Honda, Michael M. [D-CA-15], Rep. Souder, Mark E. [R-IN-3], Rep. Ellsworth, Brad [D-IN-8], Rep. Eshoo, Anna G. [D-CA-18], Rep. McDermott, Jim [D-WA-7], Rep. Speier, Jackie [D-CA-14], Rep. Costello, Jerry F. [D-IL-12], Rep. Connolly, Gerald E. [D-VA-11], Rep. Carnahan, Russ [D-MO-3]

Subjects

Taxation

Source updated

14 August 2025

Taxation

Summary

Close the SILO/LILO Loophole Act of 2009 - Amends the Internal Revenue Code to: (1) impose a 100% excise tax on any income or benefits received from a SILO (sale-in/lease-out) or LILO (lease-in/lease-out) transaction involving a financial institution and a public entity; and (2) deny a tax deduction for attorney fees or other costs incurred by a party to a SILO or LILO transaction seeking to enforce the terms of such transaction.

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

Timeline

  1. 31 July 2009

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 31 July 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 31 July 2009

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 31 July 2009

    ViewDownloadOpen at official source

  • Introduced in House (PDF)

    Introduced in House · EN · 31 July 2009

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 31 July 2009

    Open at official source

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Sponsors

Related records

Sources

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