To amend the Internal Revenue Code of 1986 with respect to the treatment of certain high yield discount obligations.

Summary

Amends the Internal Revenue Code, as amended by the Revenue Reconciliation Act of 1989, to lower the maturity date requirement of an applicable high yield discount obligation from five years to two years (thus restricting the tax deduction for interest on certain high yield original issue discount obligations). Amends the definition of "disqualified yield" as it relates to the disqualified portion of original issue discount on any applicable high yield discount obligation to remove the additional percentage point added to the excess of the yield to maturity.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 21 March 1990

  Open at official source

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