To amend the Internal Revenue Code of 1986 to impose an excise tax on optional extended warranty and service contracts having an expected cost to the issuer of less than 50 percent of the cost to the consumer.

Summary

Amends the Internal Revenue Code to impose a 60 percent excise tax on the sale of certain optional extended warranty and service contracts, to be paid by the person receiving the payment from the sale. Makes such taxes nondeductible.

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Timeline

1. 7 November 1989

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 7 November 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 November 1989

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 7 November 1989

  Open at official source

Sponsors

• Rep. Chandler, Rod D. [R-WA-8] · R · Sponsor
• Rep. Donnelly, Brian J. [D-MA-11] · D · Sponsor
• · hswm00 · Standing

Related records

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