A bill to amend the Internal Revenue Code of 1986 to provide that certain liquidating distributions of a regulated investment company or real estate investment trust which are allowable as a deduction shall be included in the gross income of a distributee.

Summary

Amends provisions of the Internal Revenue Code (IRC) concerning liquidation of corporate subsidiaries to provide that if a corporation receives a distribution from a regulated investment company or a real estate investment trust which is considered as being in complete liquidation of such company or trust, then, notwithstanding other specified IRC provisions, such corporation shall recognize and treat as a dividend from such company or trust an amount equal to the deduction for dividends paid allowable to such company or trust by reason of such distribution.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 22 May 1998

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 May 1998

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 22 May 1998

  Open at official source

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