HR 2041
101th Congress
House
Taxation
Accounting
Automobiles
Consumer credit
Income tax
Sales personnel
To amend the Internal Revenue Code of 1986 to allow income from the sale of certain used automobiles to be computed on the installment sales method, and for other purposes.
Introduced: April 18, 1989
See on congress.gov
Everywhere this bill has been
5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 22, 1990
Subcommittee Hearings Held.
Feb 21, 1990
Referred to the Subcommittee on Select Revenue Measures.
Feb 21, 1990
Subcommittee Hearings Held.
Apr 18, 1989
Referred to the House Committee on Ways and Means.
Apr 18, 1989
Introduced in House
Plain-English summary
Amends accounting provisions of the Internal Revenue Code to permit licensed used automobile dealers to use the installment method in connection with retail sales of any automobile that is more than three years old at the time of the sale if: (1) the sales price is $6,000 or less; and (2) the installment obligation arises solely from the sale in question and has a term of 36 months or less.
What's happening now
Subcommittee Hearings Held.
Committees of jurisdiction
2
Cosponsors
1