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HR 1785 107th Congress House Taxation Business income tax Capital gains tax Commerce Corporate reorganizations Corporation taxes Finance and Financial Sector Income tax Mutual funds Partnerships Securities Stocks Swaps (Finance) Tax exclusion

To amend the Internal Revenue Code of 1986 to prevent the avoidance of gain recognition through swap funds.

Introduced: May 9, 2001 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 10, 2001
Sponsor introductory remarks on measure. (CR E765-766)
May 9, 2001
Referred to the House Committee on Ways and Means.
May 9, 2001
Introduced in House
 Plain-English summary Congressional Research Service
Amends the Internal Revenue Code to include as an exception to the nonrecognition of gain or loss (thus subjecting to taxation) upon certain stock transfers the transfer of: (1) an interest in an entity if the return on such interest is limited and preferred; and (2) interests in any entity if substantially all of the entity assets consist of either limited and preferred assets or assets previously excepted from such nonrecognition requirement.

Includes as an additional exception a transfer of property to a corporation if such property is marketable securities and the corporation is an investment company or engages in investment company activities.

Includes as an exception to the nonrecognition of gain or loss for contributions to a partnership those gains realized on a transfer of property to a partnership if, were the partnership incorporated: (1) it would be treated as an investment company; or (2) the exceptions with regard to corporate stock transfers would not apply.

What's happening now May 10, 2001

Sponsor introductory remarks on measure. (CR E765-766)

 Committees of jurisdiction 1