HR 3501
110th Congress
House
Taxation
Commerce
Debt
Finance and Financial Sector
Futures trading
Income tax
Partnerships
Securities
Tax exemption
Tax-exempt organizations
Unrelated business income tax
To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax.
Introduced: September 7, 2007
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 7, 2007
Referred to the House Committee on Ways and Means.
Sep 7, 2007
Introduced in House
Plain-English summary
Amends Internal Revenue Code provisions relating to the tax on the unrelated business income of tax-exempt organizations to exempt from treatment as acquisition indebtedness (subject to the unrelated business income tax) indebtedness incurred or continued by a limited partnership in a partnership to purchase or carry certain securities or commodities.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1