To amend the Internal Revenue Code of 1986 to provide that certain liquidating distributions of a regulated investment company or a real estate investment trust which are allowable as a deduction shall be included in the gross income of the distributee.

Summary

Amends provisions of the Internal Revenue Code (IRC) concerning liquidation of corporate subsidiaries to provide that if a corporation receives a distribution from a regulated investment company or a real estate investment trust which is considered as being in complete liquidation of such company or trust, then, notwithstanding other specified IRC provisions, such corporation shall recognize and treat as a dividend from such company or trust an amount equal to the deduction for dividends paid allowable to such company or trust by reason of such distribution.

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

Timeline

1. 22 May 1998

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 22 May 1998

   Introduced

   Sponsor introductory remarks on measure. (CR E960)

   Source: IntroReferral

3. 22 May 1998

   Introduced

   Introduced in House

   Source: IntroReferral

4. 22 May 1998

   Introduced

   Introduced in House

   Source: IntroReferral

5. 9 July 1998

   Committee

   See H.R.2676.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 22 May 1998 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 22 May 1998

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 22 May 1998

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 22 May 1998

  Open at official source

Sponsors

• Rep. Archer, Bill [R-TX-7] · R · Sponsor
• · hswm00 · Standing

Related records

• related to → Internal Revenue Service Restructuring and Reform Act of 1998
• related to ← A bill to amend the Internal Revenue Code of 1986 to provide that certain liquidating distributions of a regulated investment company or real estate investment trust which are allowable as a deduction shall be included in the gross income of a distributee.