HR 1060
106th Congress
House
Taxation
Business income tax
Collection of accounts
Commerce
Economics and Public Finance
Excise tax
Finance and Financial Sector
Government Operations and Politics
Grants-in-aid
Income tax
Industrial development bonds
Interest
Intergovernmental fiscal relations
Local finance
Location of industries
State finance
Subsidies
Tax deductions
Tax-exempt securities
Distorting Subsidies Limitation Act of 1999
Introduced: March 10, 1999
See on congress.gov
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
Plain-English summary
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1