A bill to amend the Internal Revenue Code of 1954 with respect to the valuation of bank holding company assets for the purpose of determining the amount certain private foundations are required to distribute.

Summary

Amends the Internal Revenue Code with respect to the valuation of assets for the purpose of determining the amount that a private foundation which is a bank holding company is required to distribute to avoid the tax on undistributed income. Grants such a private foundation, where a substantial portion of its assets consists of securities in banks and bank related companies, the option of valuing such banks and companies by capitalizing the dividends paid at a capitalization rate of six percent.

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1 official file

• Introduced in Senate

  summary · EN · 16 February 1981

  Open at official source

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