Saving and Investment Act of 1989

Summary

Saving and Investment Act of 1989 - Amends the Internal Revenue Code to permit an income tax deduction in the amount of dividends paid by domestic corporations, except S corporations, regulated investment companies, real estate investment trusts, and personal holding companies. Repeals the income tax deductions currently permitted in connection with: (1) dividends received by a corporation; (2) dividends received by a corporation on the preferred stock of a public utility; and (3) dividends paid by a public utility on its preferred stock. Increases from 80 percent to 85 percent the deductible percentage of amounts received by a corporation from a qualified ten-percent owned foreign corporation.

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Timeline

1. 28 January 1991

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 28 January 1991

   Introduced

   Introduced in House

   Source: IntroReferral

3. 28 January 1991

   Introduced

   Introduced in House

   Source: IntroReferral

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 · 28 January 1991

  Open at official source

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Sponsors

• Rep. Dornan, Robert K. [R-CA-46] · R · Sponsor
• Rep. Petri, Thomas E. [R-WI-6] · R · Cosponsor
• Rep. DeLay, Tom [R-TX-22] · R · Cosponsor
• Rep. Cox, Christopher [R-CA-48] · R · Cosponsor
• · hswm00 · Standing

Related records

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