To amend the Internal Revenue Code of 1986 to require the recapture of certain losses of savings and loan associations, and for other purposes.

Summary

Amends the Internal Revenue Code to provide for the recapture of losses claimed by a savings and loan association by reason of certain acquisitions and because such association, after January 3, 1991, becomes subject to the jurisdiction of a bankruptcy court (or another Federal or State court in a receivership, foreclosure, or similar case), or receives Federal financial assistance. Describes such acquisition as one which occurred after November 10, 1988, and before January 1, 1989, and for which the Federal Savings and Loan Insurance Corporation (FSLIC) provided assistance. Excludes Federal financial assistance from the determination of earnings and profits.

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

Timeline

1. 18 January 1991

   Introduced

   Introduced in House

   Source: IntroReferral

2. 18 January 1991

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 January 1991

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

4. 11 February 1992

   Committee

   Committee Hearings Held.

   Source: Committee

Votes

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Versions

• Introduced in House · — · Download file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 18 January 1991

  Open at official source

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Sponsors

• Rep. Donnelly, Brian J. [D-MA-11] · D · Sponsor
• Rep. Guarini, Frank J. [D-NJ-14] · D · Cosponsor
• Rep. Smith, Lawrence [D-FL-16] · D · Cosponsor
• Rep. Dwyer, Bernard J. [D-NJ-6] · D · Cosponsor
• Sen. Johnson, Tim [D-SD] · D · Cosponsor
• Rep. Hertel, Dennis M. [D-MI-14] · D · Cosponsor
• Rep. Eckart, Dennis E. [D-OH-11] · D · Cosponsor
• Rep. Mineta, Norman Y. [D-CA-15] · D · Cosponsor
• · hswm00 · Standing

Related records

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