Thrift Partnership Tax Act of 1981

Summary

Thrift Partnership Tax Act of 1981 - Amends the Internal Revenue Code to set forth rules for the tax treatment of partnerships which include a thrift institution (financial institution which finances home mortgages) as a partner. Prescribes rules for the characterization of gain or loss from the sale of mortgages by thrift institutions, the allocation of such gain or loss, and the recognition of gain or loss on the contribution of property to a thrift partnership. Defines a thrift partnership as a partnership which includes at least one thrift institution as a partner, has as its primary purpose investment in mortgage instruments, consists almost exclusively (95 percent) of cash and mortgage instruments, and requires its non-thrift institution partners to make their contributions in cash.

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

Timeline

No timeline events have been ingested for this record yet.

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 · 9 November 1981

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.