A bill to amend the Internal Revenue Code of 1954 to reduce the deduction for business meals and to earmark the savings from such reduction for the school lunch programs.

Summary

Amends the Internal Revenue Code to reduce the income tax deduction for business meals by 30 percent. Establishes a "National School Lunch Trust Fund" in the Treasury of the United States. Funds the Trust with the amount saved by reducing the business meal deduction. Sets forth methods for managing and investing the fund. Finances programs established under the National School Lunch Act and the Child Nutrition Act of 1966 with funds appropriated from the National School Lunch Trust Fund.

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Timeline

1. 23 September 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

2. 23 September 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 28 September 1981

   Committee

   Committee on Finance requested executive comment from OMB; Treasury Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 23 September 1981

  Open at official source

Sponsors

• Sen. Hart, Gary W. [D-CO] · D · Sponsor
• Sen. Levin, Carl [D-MI] · D · Sponsor
• Sen. Cranston, Alan [D-CA] · D · Cosponsor
• · ssfi00 · Standing

Related records

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