A bill to amend the Internal Revenue Code of 1954 to include the Banks for Cooperatives among the other financial institutions subject to the provisions of Subsection 582(c) and Section 595(a) of such code.

referredUnited States· United States Congress· EN

Introduced

19 September 1977

Last action

—

Status

Referred to Senate Committee on Finance.

Summary

Amends the Internal Revenue Code to provide that the general rules for banks which stipulate that sales of debt instruments are not sales of capital assets, and that foreclosures of secured property do not cause recognized gains or losses, shall also apply to banks for farm cooperatives.

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Votes

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Versions

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Documents

2 official files

Reported to House with amendment(s)
summary · EN · 6 September 1978
Open at official source
Introduced in House
summary · EN · 19 September 1977
Open at official source

Related records

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/house-bill/9192
Open data entity: https://api.congress.gov/v3/bill/95/hr/9192