A bill to amend the Internal Revenue Code of 1986 to repeal the 30-percent gross income limitation on regulated investment companies.

Summary

Amends the Internal Revenue Code to repeal the requirement that less than 30 percent of the gross income of a regulated investment company be derived from the sale or disposition of any of the following which were held for less than three months: (1) stocks or securities; (2) options, futures, or forward contracts (other than those on foreign currencies); or (3) certain foreign currencies.

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Timeline

1. 28 February 1991

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 28 February 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 · 28 February 1991

  Open at official source

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Sponsors

• Sen. Dixon, Alan J. [D-IL] · D · Sponsor
• Sen. Simon, Paul [D-IL] · D · Sponsor
• Sen. Daschle, Thomas A. [D-SD] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to repeal the 30-percent gross income limitation applicable to regulated investment companies.