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United States · Bill · S

S. 1489 (100th)

A bill to amend section 67 of the Internal Revenue Code of 1986 to exempt certain publicly offered regulated investment companies from the disallowance of indirect deductions through pass-thru entities.

referredUnited States· United States Congress· EN

Introduced

14 July 1987

Last action

14 July 1987 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Moynihan, Daniel Patrick [D-NY], Rep. Baucus, Max [D-MT-1], Sen. Boren, David L. [D-OK], Sen. Chafee, John H. [R-RI], Sen. Daschle, Thomas A. [D-SD], Sen. Dole, Robert J. [R-KS], Sen. Durenberger, Dave [R-MN], Sen. Kennedy, Edward M. [D-MA], Sen. Kerry, John F. [D-MA], Sen. Matsunaga, Spark M. [D-HI], Sen. Mitchell, George J. [D-ME], Sen. Pryor, David H. [D-AR], Sen. Riegle, Donald W., Jr. [D-MI], Sen. Rockefeller, John D., IV [D-WV], Sen. Roth Jr., William V. [R-DE], Sen. Wallop, Malcolm [R-WY], Sen. Heinz, John [R-PA], Rep. Armstrong, William L. [R-CO-5], Sen. Helms, Jesse [R-NC], Sen. Karnes, David K. [R-NE], Rep. Symms, Steven D. [R-ID-1], Sen. Reid, Harry [D-NV], Sen. Inouye, Daniel K. [D-HI], Sen. Evans, Daniel J. [R-WA], Sen. D'Amato, Alfonse [R-NY], Sen. Gore, Albert, Jr. [D-TN], Sen. Dixon, Alan J. [D-IL], Sen. Cranston, Alan [D-CA], Rep. Dodd, Christopher J. [D-CT-2], Sen. Lugar, Richard G. [R-IN], Sen. McCain, John [R-AZ], Rep. Cohen, William S. [R-ME-2], Sen. Weicker, Lowell P., Jr. [R-CT], Sen. Warner, John [R-VA], Sen. Garn, E. J. (Jake) [R-UT], Rep. Pressler, Larry [R-SD-1], Sen. Wilson, Pete [R-CA], Sen. Biden, Joseph R., Jr. [D-DE], Sen. Graham, Bob [D-FL], Sen. Heflin, Howell [D-AL], Chuck Grassley, Sen. Domenici, Pete V. [R-NM], Sen. Leahy, Patrick J. [D-VT], Sen. Chiles, Lawton [D-FL], Sen. Johnston, J. Bennett [D-LA], Sen. Boschwitz, Rudy [R-MN], Sen. Sanford, Terry [D-NC], Rep. Cochran, Thad [R-MS-4]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to provide that the prohibition against indirect income tax deductions through pass-through entities shall not apply to any regulated investment company whose shares are: (1) continuously offered pursuant to a public offering; (2) regularly traded on an established securities market; or (3) held by or for at least 500 persons at all times during the taxable year.

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

Timeline

  1. 14 July 1987

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 14 July 1987

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Sponsors

Showing 48 of 69 sponsors and actors.

Related records

Sources

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