A bill to amend section 174 of the Internal Revenue Code of 1954 to make clear that product development and improvement costs of publishers are research or experiment expenditures, and to prohibit the retroactive application of revenue ruling numbered 73-395.

Summary

Provides, under the Internal Revenue Code, that product development and improvement costs (including writing, editing, compiling, illustrating, and designing) of publishers are research or experimental expenditures for purposes of deductibility. Prohibits the retroactive application of Revenue Ruling Numbered 73-395.

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

Timeline

1. 16 September 1975

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 16 September 1975

   Introduced

   Introduced in Senate

   Source: IntroReferral

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 · 16 September 1975

  Open at official source

Sponsors

• Sen. Bentsen, Lloyd M. [D-TX] · D · Sponsor
• Sen. Stevenson, Adlai E., III [D-IL] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend section 174 of the Internal Revenue Code of 1954 to make clear that product development and improvement costs of publishers are research or experimental expenditures and to prohibit the retroactive application of Revenue Ruling 73-395.