A bill to amend the Internal Revenue Code of 1986 to exclude small transactions from broker reporting requirements, and to make certain clarifications relating to such requirements.

Summary

Amends the Internal Revenue Code to exclude from broker reporting requirements property or services which involve any metal or coin other than any gold, silver, platinum, or palladium coin or bar which is the proper subject of a regulated futures contract. Provides that a person shall not be treated as a broker with respect to activities consisting of managing a farm on behalf of another person. Provides that except for stocks, bonds, and other intangible personal property, broker reporting requirements shall apply only to transactions the gross proceeds of which are more than $5,000.

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

Timeline

1. 14 January 1991

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 14 January 1991

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · — · Download file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 14 January 1991

  Open at official source

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Sponsors

• Sen. Pryor, David H. [D-AR] · D · Sponsor
• Sen. Hollings, Ernest F. [D-SC] · D · Sponsor
• Sen. Riegle, Donald W., Jr. [D-MI] · D · Sponsor
• Sen. Exon, J. James [D-NE] · D · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Bumpers, Dale [D-AR] · D · Sponsor
• Sen. Burdick, Quentin N. [D-ND] · D · Sponsor
• Sen. Helms, Jesse [R-NC] · R · Sponsor
• Sen. Wallop, Malcolm [R-WY] · R · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Sponsor
• Sen. Fowler, Wyche, Jr. [D-GA] · D · Sponsor
• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• Sen. Pell, Claiborne [D-RI] · D · Cosponsor
• Sen. Chafee, John H. [R-RI] · R · Cosponsor
• Sen. Breaux, John B. [D-LA] · D · Cosponsor
• Sen. Burns, Conrad R. [R-MT] · R · Cosponsor
• Sen. Symms, Steven D. [R-ID] · R · Cosponsor
• Sen. Craig, Larry E. [R-ID] · R · Cosponsor
• Sen. Hatfield, Mark O. [R-OR] · R · Cosponsor
• Sen. Dodd, Christopher J. [D-CT] · D · Cosponsor
• · ssfi00 · Standing

Related records

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