HR 1692
107th Congress
House
Taxation
Alaska
Capital gains tax
Finance and Financial Sector
Income tax
Indian claims
Indian lands
Law
Losses
Minorities
Personal income tax
Stocks
Tax exclusion
Tax rates
Tax returns
Trusts and trustees
To amend the Internal Revenue Code of 1986 to simplify and make more equitable the tax treatment of Settlement Trusts established pursuant to the Alaska Native Claims Settlement Act.
Introduced: May 2, 2001
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 2001
Sponsor introductory remarks on measure. (CR E888)
May 3, 2001
Sponsor introductory remarks on measure. (CR E725)
May 2, 2001
Referred to the House Committee on Ways and Means.
May 2, 2001
Introduced in House
Plain-English summary
Amends the Internal Revenue Code (IRC) to impose on an electing Alaska Native Settlement Trust, other than its net capital gain, the lowest rate of tax imposed by section one of the IRC (currently, 15 percent). Provides that in the case of an electing Settlement Trust with a net capital gain for the taxable year, a tax is imposed on such gain at the rate of tax which would apply to such gain if the taxpayer were subject to a tax on its other taxable income at only the lowest rate. Provides for the tax treatment of distributions to beneficiaries. Sets forth information reporting requirements.
What's happening now
Sponsor introductory remarks on measure. (CR E888)
Committees of jurisdiction
1
Cosponsors
1