HR 2311
100th Congress
House
Taxation
Child health
Children and youth
Civil actions and liability
Courts and Civil Procedure
Damages
Families
Income tax
Tax exclusion
Tax rates
A bill to amend the Internal Revenue Code of 1986 to provide that unearned income of a child attributable to damages received on account of personal injuries or sickness of the child shall not be taxed at the marginal rate of such child's parents.
Introduced: May 7, 1987
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 7, 1987
Referred to House Committee on Ways and Means.
May 7, 1987
Introduced in House
Plain-English summary
Amends Internal Revenue Code provisions governing situations in which certain unearned income of a child under age 14 is taxed as if it were parental income. Excludes from the calculations of net unearned income for such income tax treatment income that: (1) is attributable to any amount a child receives in a lump sum as payment for damages received on account of personal injuries or sickness; and (2) accrues while the damage payment is in a custodial account whose uses are restricted by State law.
What's happening now
Referred to House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1