To amend the Internal Revenue Code of 1986 to allow accelerated depreciation for equipment used to manufacture advanced materials or to develop advanced technologies, to reduce capital gains taxes, and to impose a minimum tax on foreign and foreign-owned corporations operating in the United States.

Summary

Amends the Internal Revenue Code to allow a three-year depreciable life for semiconductor manufacturing equipment and equipment used to manufacture advanced materials or to develop advanced technologies. Reduces the individual and corporate capital gains rates and the minimum tax rate on capital gains. Imposes a minimum tax on domestic corporations which are 25-percent foreign-owned and foreign corporations engaged in a trade or business within the United States.

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

Timeline

1. 10 September 1992

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 10 September 1992

   Introduced

   Introduced in House

   Source: IntroReferral

3. 10 September 1992

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 10 September 1992

  Open at official source

Sponsors

• Rep. Hunter, Duncan [R-CA-45] · R · Sponsor
• Rep. Bateman, Herbert H. [R-VA-1] · R · Cosponsor
• Rep. Lewis, Thomas F. [R-FL-12] · R · Cosponsor
• Rep. Bentley, Helen Delich [R-MD-2] · R · Cosponsor
• Rep. Porter, John Edward [R-IL-10] · R · Cosponsor
• F. SENSENBRENNER · R · Cosponsor
• Rep. Schiff, Steven [R-NM-1] · R · Cosponsor
• Rep. Spence, Floyd [R-SC-2] · R · Cosponsor
• Rep. Solomon, Gerald B. H. [R-NY-24] · R · Cosponsor
• Rep. Fawell, Harris W. [R-IL-13] · R · Cosponsor
• · hswm00 · Standing

Related records

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