A bill relating to tax treatment of qualified dividend reinvestment plans.

Summary

Amends the Internal Revenue Code to exclude from gross income a corporate stock distribution to a stockholder based upon the reinvestment of stock dividends in the corporation by such stockholder pursuant to his election to participate in a qualified dividend reinvestment plan, as defined in this Act. Limits the amount of such exclusion to $1,500 per year. Establishes a rebuttable presumption that a distribution made by a corporation which purchases its common stock within one year of such distribution shall not be deemed a distribution pursuant to a qualified dividend reinvestment plan.

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Timeline

1. 19 July 1979

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 19 July 1979

   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

• Introduced in Senate

  summary · EN · 19 July 1979

  Open at official source

Sponsors

• Sen. Nelson, Gaylord [D-WI] · D · Sponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Cosponsor
• Sen. Schmitt, Harrison H. [R-NM] · R · Cosponsor
• Sen. Tower, John G. [R-TX] · R · Cosponsor
• Sen. Hollings, Ernest F. [D-SC] · D · Cosponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Cosponsor
• Sen. Armstrong, William L. [R-CO] · R · Cosponsor
• Sen. Packwood, Bob [R-OR] · R · Cosponsor
• Sen. Helms, Jesse [R-NC] · R · Cosponsor
• Sen. Thurmond, Strom [R-SC] · R · Cosponsor
• Sen. Wallop, Malcolm [R-WY] · R · Cosponsor
• Sen. Domenici, Pete V. [R-NM] · R · Cosponsor
• Sen. Humphrey, Gordon J. [R-NH] · R · Cosponsor
• Sen. Mathias, Charles McC., Jr. [R-MD] · R · Cosponsor
• · ssfi00 · Standing

Related records

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