S 1240
106th Congress
Senate
Taxation
Business income tax
Capital gains tax
Economics and Public Finance
Income tax
Indexing (Economic policy)
Public Lands and Natural Resources
Tax deductions
Timber sales
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
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
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1