A bill to amend the Internal Revenue Code of 1954 to provide that the amount of the charitable deduction allowable for expenses incurred in the operation of a highway vehicle will be determined in the same manner as the business deduction for such expenses.

Summary

Amends the Mineral Lands Leasing Act to prohibit, for a specified period, any foreign person from acquiring more than five percent of the voting securities in a U.S. mineral resource corporation. Amends the Internal Revenue Code to provide that the charitable deduction allowed for expenses incurred in the operation of a motor vehicle shall include the depreciation, operation, and maintenance costs allocable to such operation and shall be determined in the same manner as a business related deduction.

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1 official file

• Introduced in House

  summary · EN · 17 July 1981

  Open at official source

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