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HR 1060 106th Congress House

Distorting Subsidies Limitation Act of 1999

Official title: To amend the Internal Revenue Code of 1986 to provide that economic subsidies provided by a State or local government for a particular business to locate or re… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to provide that economic subsidies provided by a State or local government for a particular business to locate or remain within the government's jurisdiction shall be taxable to such business, and for other purposes.

Introduced: November 18, 1999 See on congress.gov
Taxation Business income taxCollection of accountsCommerceEconomics and Public Finance
More subjectsShow fewer subjects
Excise taxFinance and Financial SectorGovernment Operations and PoliticsGrants-in-aidIncome taxIndustrial development bondsInterestIntergovernmental fiscal relationsLocal financeLocation of industriesState financeSubsidiesTax deductionsTax-exempt securities
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) 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 10, 1999
Referred to the House Committee on Ways and Means.
Mar 10, 1999
Introduced in House
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 Latest action March 10, 1999

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Distorting Subsidies Limitation Act of 1999 - Amends the Internal Revenue Code to impose an excise tax on any person engaged in a trade or business who derives any benefit from any targeted subsidy provided by a State or local government. Defines such a subsidy as one which is designed to encourage a business to locate or remain in a particular jurisdiction. Denies a tax exemption for any interest earned on bonds which provide such subsidies. Prohibits the use of Federal funds to provide such a subsidy.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Independent 1
I
Sanders, Bernard
Vermont · Nov 18, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1060: Distorting Subsidies Limitation Act of 1999. 106th Congress. Open America. https://openamerica.io/bill/106-HR-1060/
MLA
"H.R. 1060: Distorting Subsidies Limitation Act of 1999." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-1060/.
Bluebook (legal)
H.R. 1060, 106th Cong. (2026), https://openamerica.io/bill/106-HR-1060/.
Markdown link
[H.R. 1060: Distorting Subsidies Limitation Act of 1999](https://openamerica.io/bill/106-HR-1060/)
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