A bill to amend the Internal Revenue Code of 1986 to provide for the extension of certain expiring provisions.

Summary

Amends the Internal Revenue Code to decrease the targeted jobs credit from 40 to 35 percent of the amount of qualified first-year wages. Revises targeted group membership provisions. Excludes from the definition of wages (for computing the credit) any wages paid after: (1) December 31, 1994, and before January 1, 1996; or (2) December 31, 1997. Redesignates such credit the "work opportunity credit." Extends to December 31, 1997, the: (1) exclusion from gross income of employer-provided educational assistance; (2) credit for increasing research activities; (3) orphan drug tax credit; (4) special rule concerning deductions for contributions of stock for which market quotations are readily available; and (5) exclusion from gross income of employer contributions to qualified group legal services plans. Extends the binding contract date for biomass and coal facilities to July 1, 1997. Amends the Revenue Act of 1987 to extend from December 31, 1997, to December 31, 1999, the effective date (for existing partnerships) of provisions relating to the treating of certain publicly traded partnerships as corporations.

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

Timeline

1. 9 February 1996

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 9 February 1996

   Introduced

   Sponsor introductory remarks on measure. (CR S1182, S1184-1185)

   Source: IntroReferral

3. 9 February 1996

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 9 February 1996 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 9 February 1996

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 9 February 1996

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 9 February 1996

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Hatch, Orrin G. [R-UT] · R · Sponsor
• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Simpson, Alan K. [R-WY] · R · Sponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Sponsor
• Sen. Murray, Patty [D-WA] · D · Cosponsor
• Sen. Kerry, John F. [D-MA] · D · Cosponsor
• Sen. Jeffords, James M. [I-VT] · R · Cosponsor
• Sen. Burns, Conrad R. [R-MT] · R · Cosponsor
• Sen. Boxer, Barbara [D-CA] · D · Cosponsor
• Sen. Campbell, Ben Nighthorse [R-CO] · R · Cosponsor
• · ssfi00 · Standing

Related records

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