A bill to exclude deposits into a capital construction fund account under section 607(d) of the Merchant Marine Act from net earnings from self-employment.

Summary

Amends the Merchant Marine Act, 1936, and the Internal Revenue Code to permit participants in the Merchant Marine Capital Construction Fund to reduce their self-employment income by the amount of contributions to such Fund. Makes nonqualified withdrawals subject to the self-employment tax.

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

Timeline

1. 7 November 1991

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 7 November 1991

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · undated · Official file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 7 November 1991

  Open at official source

Sponsors

• Sen. Stevens, Ted [R-AK] · R · Sponsor
• Sen. Murkowski, Frank H. [R-AK] · R · Cosponsor
• · ssfi00 · Standing

Related records

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