United States · Bill · S
S. 650 (96th)
A bill to amend the Internal Revenue Code of 1954 with respect to the treatment of certain employee's trusts organized to invest in real estate.
Introduced
13 March 1979
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
3 January 2025
Summary
Amends the Internal Revenue Code to confer tax-exempt status upon employee benefit trusts organized to invest in real estate. Sets forth requirements for the qualification of such a trust for preferential tax treatment including requirements that the total cost of all the trust's property exceed $10,000,000 and that at least 75 percent of such total cost consists of real property, interests in real property, cash, or Government securities.
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 13 March 1979
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/96th-congress/senate-bill/650
- Open data entity: https://api.congress.gov/v3/bill/96/s/650