A bill to amend the Internal Revenue Code of 1986 to provide for the nonrecognition of gain for sale of stock to certain farmers' cooperatives, and for other purposes.

Summary

Amends the Internal Revenue Code to provide for the nonrecognition of gain for sales of stock of a qualified refiner or processor to an eligible farmer's cooperative. Raises from 30 to 100 percent the amount of stock an employee stock ownership (ESOP) plan or cooperative must hold after a sale. Sets forth provisions concerning the determination of whether any stock in the domestic corporation is a qualified security.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 December 1995

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 December 1995

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• Introduced in Senate

  summary · EN · 15 December 1995

  Open at official source

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