Skip to content
PoliticalRepoPoliticalRepo

United States · Bill · S

S. 2894 (98th)

A bill to amend the Internal Revenue Code of 1954 to clarify the application of the imputed interest and interest accrual rules in the case of sales of residences, farms, and real property used in a trade or business.

openUnited States· United States Congress· EN

Introduced

31 July 1984

Last action

20 August 1984 · Committee

Status

Committee on Finance requested executive comment from OMB, Treasury Department.

Sponsors

Sen. Melcher, John [D-MT], Sen. Levin, Carl [D-MI], Sen. Baucus, Max [D-MT], Sen. Sasser, Jim [D-TN], Sen. DeConcini, Dennis [D-AZ], Sen. Jepsen, Roger W. [R-IA], Sen. Hatfield, Mark O. [R-OR], Sen. Eagleton, Thomas F. [D-MO], Sen. Burdick, Quentin N. [D-ND], Sen. Boren, David L. [D-OK], Sen. Randolph, Jennings [D-WV], Sen. Nickles, Don [R-OK], Sen. Hawkins, Paula [R-FL], Sen. Boschwitz, Rudy [R-MN], Sen. Heinz, John [R-PA], Sen. Bingaman, Jeff [D-NM], Sen. Grassley, Chuck [R-IA], Sen. Sarbanes, Paul S. [D-MD], Sen. Pryor, David H. [D-AR], Sen. Andrews, Mark [R-ND], Sen. Ford, Wendell H. [D-KY], Sen. Inouye, Daniel K. [D-HI], Sen. Zorinsky, Edward [D-NE], Sen. Exon, J. James [D-NE], Sen. Heflin, Howell [D-AL], Sen. Roth Jr., William V. [R-DE], Sen. Huddleston, Walter (Dee) [D-KY], Sen. Specter, Arlen [R-PA], Sen. Biden, Joseph R., Jr. [D-DE], Sen. Humphrey, Gordon J. [R-NH], Sen. Murkowski, Frank H. [R-AK], Sen. Bumpers, Dale [D-AR], Sen. Leahy, Patrick J. [D-VT]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to reduce the rate of imputed interest for: (1) the first $250,000 of the sale price of residential property sold by an individual; (2) the first $1,500,000 of the sale price of farm property sold by an individual, partnership, estate or small business corporation; and (3) the first $500,000 of the sale price of real property associated with the sale of a trade or business.

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

Timeline

  1. 31 July 1984

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 31 July 1984

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 20 August 1984

    Committee

    Committee on Finance requested executive comment from OMB, Treasury Department.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

Related records

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.