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United States · Bill · HR

H.R. 349 (93rd)

To amend section 584 of the Internal Revenue Code of 1954, relating to common trust funds maintained by banks.

referredUnited States· United States Congress· EN

Introduced

3 January 1973

Last action

—

Status

Referred to House Committee on Ways and Means.

Sponsors

—

Subjects

Discovery layer

Source updated

1 August 2024

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Summary

Redefines part of the definition of the term "common trust fund" pursuant to the Internal Revenue Code as a fund maintained by a bank exclusively for the collective investment and reinvestment of moneys contributed thereto by the bank maintaining the fund, or by any other bank which is a member of an affiliated group (as defined in 26 U.S.C. 1504) of which the bank maintaining the fund is a member, in the capacity of the contributing bank as trustee, executor, administrator, or guardian. (Amends 26 U.S.C. 584 (a)(l))

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Documents

1 official file

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