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S 775 105th Congress Senate

A bill to amend the Internal Revenue Code of 1986 to exclude gain or loss from the sale of livestock from the computation of capital gain net income for purposes of the earned income credit.

Introduced: May 21, 1997 See on congress.gov
Taxation Agriculture and FoodAnimalsBusiness income taxBusiness losses
More subjectsShow fewer subjects
Capital gains taxCommerceEarned income tax creditIncome taxLivestockPersonal income tax
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 21, 1997
Read twice and referred to the Committee on Finance.
May 21, 1997
Sponsor introductory remarks on measure. (CR S4889)
May 21, 1997
Introduced in Senate
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 Latest action May 21, 1997

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to exclude gain or loss from the sale of livestock (as defined in existing provisions relating to property used in the trade or business and involuntary conversions) from the definition of "disqualified income" for purposes of the earned income credit. Applies the amendment to taxable years beginning after December 31, 1995.

 Related & companion bills 1
  • HR 1800 Identical bill To amend the Internal Revenue Code of 1986 to exclude gain or loss from the sale of livestock from the computation of c…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2
R
Collins, Susan M.
Maine · May 21, 1997
 R
Grassley, Chuck
Iowa · May 21, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). S. 775: A bill to amend the Internal Revenue Code of 1986 to exclude gain or loss from the sale of livestock from the computation of capital gain net income for purposes of the earned income credit.. 105th Congress. Open America. https://openamerica.io/bill/105-S-775/
MLA
"S. 775: A bill to amend the Internal Revenue Code of 1986 to exclude gain or loss from the sale of livestock from the computation of capital gain net income for purposes of the earned income credit.." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-S-775/.
Bluebook (legal)
S. 775, 105th Cong. (2026), https://openamerica.io/bill/105-S-775/.
Markdown link
[S. 775: A bill to amend the Internal Revenue Code of 1986 to exclude gain or loss from the sale of livestock from the computation of capital gain net income for purposes of the earned income credit.](https://openamerica.io/bill/105-S-775/)
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