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S 583 102th Congress Senate Taxation Bank failures Business losses Corporation taxes Finance and Financial Sector Income tax Savings and loan associations Tax deductions

A bill to amend the Internal Revenue Code of 1986 to require the recapture of certain losses of savings and loan associations, to clarify the treatment of certain Federal financial assistance to…

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A bill to amend the Internal Revenue Code of 1986 to require the recapture of certain losses of savings and loan associations, to clarify the treatment of certain Federal financial assistance to savings and loan associations, and for other purposes.

Introduced: March 6, 1991 See on congress.gov
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This bill died when the 102nd Congress ended
It never became law before the 102nd Congress (1991–1992) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 6, 1991
Read twice and referred to the Committee on Finance.
Mar 6, 1991
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to provide for the recapture of losses claimed by a savings and loan association by reason of certain acquisitions and such association, after January 3, 1991, becomes subject to the jurisdiction of a bankruptcy court or similar case or received Federal financial assistance. Describes such acquisition as one which occurred after November 10, 1988, and before January 1, 1989, and one which the Federal Savings and Loan Insurance Corporation (FSLIC) provided assistance.

Excludes Federal financial assistance from the determination of earnings and profits.

Requires that, except in specified instances, certain Federal financial assistance be taken into account when determining losses or certain bad debts of savings and loans institutions (thus denying income tax deductions for losses or bad debts to the extent Federal assistance has compensated for them).

What's happening now March 6, 1991

Read twice and referred to the Committee on Finance.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Mar 20, 1991
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APA
U.S. Congress. (2026). S. 583: A bill to amend the Internal Revenue Code of 1986 to require the recapture of certain losses of savings and loan associations, to clarify the treatment of certain Federal financial assistance to savings and loan associations, and for other purposes.. 102nd Congress. Open America. https://openamerica.io/bill/102-S-583/
MLA
"S. 583: A bill to amend the Internal Revenue Code of 1986 to require the recapture of certain losses of savings and loan associations, to clarify the treatment of certain Federal financial assistance to savings and loan associations, and for other purposes.." 102nd Congress, 2026, Open America, https://openamerica.io/bill/102-S-583/.
Bluebook (legal)
S. 583, 102nd Cong. (2026), https://openamerica.io/bill/102-S-583/.
Markdown link
[S. 583: A bill to amend the Internal Revenue Code of 1986 to require the recapture of certain losses of savings and loan associations, to clarify the treatment of certain Federal financial assistance to savings and loan associations, and for other purposes.](https://openamerica.io/bill/102-S-583/)
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