A bill to amend the Internal Revenue Code of 1954 (26 U.S.C. Section 542(d)) to provide that for purposes of the tax on certain income of personal holding companies, the term "lending or finance business" shall not include the business of making loans, etc., with a maturity exceeding one hundred twenty (120) months.

referredUnited States· United States Congress· EN

Introduced

16 April 1973

Last action

—

Status

Referred to Senate Committee on Finance.

Summary

Provides that for purposes of the tax under the Internal Revenue Code on income of personal holding companies, the term "lending or finance business" shall not include the business of making loans, and so forth, with a maturity exceeding 120 months. (Amends 26 U.S.C. 542(d))

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Documents

1 official file

Introduced in Senate
summary · EN · 16 April 1973
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/93rd-congress/senate-bill/1596
Open data entity: https://api.congress.gov/v3/bill/93/s/1596