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Securitization Enhancement Act of 1995

Introduced: June 29, 1995 See on congress.gov
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 Everywhere this bill has been 5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 12, 1995
Committee Hearings Held.
Jul 11, 1995
Committee Hearings Held.
Jun 30, 1995
Sponsor introductory remarks on measure. (CR E1369-1371)
Jun 29, 1995
Introduced in House
Jun 29, 1995
Referred to the House Committee on Ways and Means.
 Plain-English summary Congressional Research Service

Securitization Enhancement Act of 1995 - Amends the Internal Revenue Code to exempt from taxation Financial Asset Securitization Investment Trusts (FASIT) and prohibit the treatment of FASITs as trusts, partnerships, corporations, or taxable mortgage pools. Directs the holder of an ownership interest in a FASIT to take into account the holder's daily portion of the taxable income or net loss of such FASIT for each day during the taxable year on which such holder held such interest.

Provides that gains and losses shall not be recognized to the transferor or the FASIT in a qualified exchange.

Disregards for all Federal tax purposes the transfer or issuance of an ownership interest or a permitted debt instrument to a disqualified holder.

What's happening now July 12, 1995

Committee Hearings Held.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1