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S 1240 106th Congress Senate

A bill to amend the Internal Revenue Code of 1986 to provide a partial inflation adjustment for capital gains from the sale or exchange of timber.

Introduced: June 17, 1999 See on congress.gov
Taxation Business income taxCapital gains taxEconomics and Public FinanceIncome tax
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Indexing (Economic policy)Public Lands and Natural ResourcesTax deductionsTimber sales
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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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 17, 1999
Read twice and referred to the Committee on Finance.
Jun 17, 1999
Sponsor introductory remarks on measure. (CR S7229-7231)
Jun 17, 1999
Introduced in Senate
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 Latest action June 17, 1999

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service
Amends the Internal Revenue Code to allow a deduction to a taxpayer who has a qualified timber gain in an amount equal to the qualified percentage of such gain.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Collins, Susan M.
Maine · Jun 17, 1999
 D
Murray, Patty
Washington · Jun 17, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1240: A bill to amend the Internal Revenue Code of 1986 to provide a partial inflation adjustment for capital gains from the sale or exchange of timber.. 106th Congress. Open America. https://openamerica.io/bill/106-S-1240/
MLA
"S. 1240: A bill to amend the Internal Revenue Code of 1986 to provide a partial inflation adjustment for capital gains from the sale or exchange of timber.." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-S-1240/.
Bluebook (legal)
S. 1240, 106th Cong. (2026), https://openamerica.io/bill/106-S-1240/.
Markdown link
[S. 1240: A bill to amend the Internal Revenue Code of 1986 to provide a partial inflation adjustment for capital gains from the sale or exchange of timber.](https://openamerica.io/bill/106-S-1240/)
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