A bill to amend the Internal Revenue Code of 1954 to exempt from taxation corporations which acquire and manage real property for certain other exempt organizations, and for other purposes.

Summary

Amends the Internal Revenue Code to grant tax-exempt status to corporations which acquire and manage real property for certain other tax-exempt organizations. Exempts such corporations from the application of the acquisition indebtedness rules applicable to the unrelated business income of tax-exempt organizations.

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

Timeline

1. 4 August 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 4 August 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 20 August 1983

   Committee

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

   Source: Committee

4. 26 September 1983

   Committee

   Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-527.

   Source: Committee

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 · 4 August 1983

  Open at official source

Sponsors

• Sen. Packwood, Bob [R-OR] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to exempt from taxation corporations which acquire and manage real property for certain other exempt organizations, and for other purposes.