A bill to amend the Internal Revenue Code of 1986 to provide that unearned income of a child attributable to damages received on account of personal injuries or sickness of the child not be taxed at the marginal rate of such child's parents.

Summary

Amends Internal Revenue Code provisions governing situations in which unearned income of a child under age 14 is taxed as if it were parental income. Excludes from income subject to the parental tax rate any earnings.

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

Timeline

1. 2 June 1989

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 2 June 1989

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · undated · Official file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 2 June 1989

  Open at official source

Sponsors

• Sen. Mitchell, George J. [D-ME] · D · Sponsor
• Sen. Riegle, Donald W., Jr. [D-MI] · D · Cosponsor
• Sen. Dixon, Alan J. [D-IL] · D · Cosponsor
• · ssfi00 · Standing

Related records

No cross-record relationships stored yet.