HR 1379
105th Congress
House
Taxation
Aliens
Business income tax
Capital gains tax
Commerce
Corporations
Estate tax
Gift tax
Immigration
Income tax
Law
Losses
Partnerships
Personal income tax
Tax credits
Tax cuts
Tax rates
Trusts and trustees
Valuation
American Dream Tax Fairness Equity Act of 1997
Introduced: April 17, 1997
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 17, 1997
Referred to the House Committee on Ways and Means.
Apr 17, 1997
Introduced in House
Plain-English summary
American Dream Tax Fairness Equity Act of 1997 - Amends the Internal Revenue Code to reduce the three-year capital gains rate to 15 percent.
Revises provisions regulating the computation of estate and gift taxes and credits, basing the taxes and credits on capital gains.
Requires a trust, on the death of any individual who contributed property to the trust, to recognize gain or loss as if that property was sold for its fair market value on the death date. Provides for the treatment of contributions by partnerships or corporations.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1