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United States · Bill · HR

H.R. 4562 (97th)

First Things First Credit Act of 1981

openUnited States· United States Congress· EN

Introduced

23 September 1981

Last action

24 May 1982 · Committee

Status

Subcommittee Hearings Held.

Sponsors

Sen. Dorgan, Byron L. [D-ND], Rep. Benjamin, Adam, Jr. [D-IN-1], Rep. Smith, Neal Edward [D-IA-4], Rep. Bonker, Don [D-WA-3], Rep. Kogovsek, Ray [D-CO-3], Rep. Smith, Joseph F. [D-PA-3], Rep. Murphy, Austin J. [D-PA-20], Sen. Harkin, Tom [D-IA], Rep. Edgar, Robert W. [D-PA-7], Rep. Vento, Bruce F. [D-MN-4], Rep. Seiberling, John F. [D-OH-14], Rep. Dicks, Norman D. [D-WA-6], Rep. Weiss, Ted [D-NY-17], Rep. Patterson, Jerry M. [D-CA-38], Rep. Gejdenson, Sam [D-CT-2], Rep. Oakar, Mary Rose [D-OH-20], Sen. Simon, Paul [D-IL], Sen. Gore, Albert, Jr. [D-TN], Rep. Roemer, Buddy [D-LA-4], Sen. Wyden, Ron [D-OR], Sen. Jeffords, James M. [I-VT], Rep. Dwyer, Bernard J. [D-NJ-6], Rep. Coyne, James K. [R-PA-8], Rep. Williams, Pat [D-MT-At Large], Del. de Lugo, Ron [D-VI-At Large], Rep. Downey, Thomas J. [D-NY-2]

Subjects

Taxation

Source updated

29 August 2025

Taxation

Official sourceView documentsShare

Summary

First Things First Credit Act of 1981 - Amends the Internal Revenue Code to disallow an income tax deduction for interest paid or incurred on any loan which is used to acquire stock in order to gain control of a corporation, if the Board of Directors disapproves of the proposed acquisition by a majority vote.

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

Timeline

  1. 23 September 1981

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 23 September 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 23 September 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 6 May 1982

    Referred

    Referred to Subcommittee on Select Revenue Measures.

    Source: Committee

  5. 24 May 1982

    Committee

    Subcommittee Hearings Held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

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Sponsors

Related records

No cross-record relationships stored yet.

Sources

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