United States · Bill · S
S. 1292 (96th)
A bill to amend the Internal Revenue Code of 1954 with respect to punitive damages received by private litigants in antitrust actions.
Introduced
7 June 1979
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
3 January 2025
Summary
Amends the Internal Revenue Code to exclude from gross income punitive damages (two-thirds of antitrust treble damages) received by a private litigant if such litigant brings suit against a particular defendant before the Federal Government institutes criminal proceedings. Disallows tax deductions for antitrust punitive damages paid or incurred by a taxpayer.
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 7 June 1979
Sponsors
No sponsors or actors listed by the source.
Related records
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Sources
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- Official source: https://www.congress.gov/bill/96th-congress/senate-bill/1292
- Open data entity: https://api.congress.gov/v3/bill/96/s/1292