A bill to provide tax treatment for exchanges under the final system plan for ConRail.

Summary

Authorizes the nonrecognition of gain or loss, under the Internal Revenue Code, on the transfer of rail properties or stock or securities of a transferor railroad corporation to the Consolidated Rail Corporation pursuant to an order under the Regional Rail Reorganization Act to carry out the final system plan, in exchange solely for stock of the Consolidated Rail Corporation and certificates of value of the United States Railway Association. Prohibits the carryover of any net operating loss of a transferor corporation to the Consolidated Rail Corporation. Makes technical and conforming amendments.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

3 official files

• Public Law (PDF)

  Public Law · EN · 1 April 1976

  ViewDownloadOpen at official source

• Reported to House with amendment(s)

  summary · EN · 22 March 1976

  Open at official source

• Introduced in House

  summary · EN · 11 March 1976

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.