S 2669
100th Congress
Senate
Taxation
Accounting
Agricultural cooperatives
Agricultural economics
Agricultural societies
Agriculture and Rural Affairs
Business and commerce
Business losses
Capital gains tax
Communications and Broadcasting
Cooperative societies
Earnings
Electric power
Energy
Finance and Financial Sector
Income tax
Insurance
Insurance companies
Rural affairs legislation
Rural electrification
A bill to amend section 1388 of the Internal Revenue Code of 1986.
Introduced: July 29, 1988
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 29, 1988
Read twice and referred to the Committee on Finance.
Jul 29, 1988
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to permit cooperatives (farmers' cooperatives, cooperative banks, mutual insurance companies, and rural electric and telephone cooperatives) to: (1) elect to treat as ordinary income or loss any gain or loss from the sale or other disposition of any asset used by the organization to facilitate the conduct of business done with or for patrons; and (2) include such gain or loss in net earnings of the organization from business done with or for patrons.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1