S 551
113th Congress
Senate
Transportation and Public Works
Marine and coastal resources, fisheries
Marine and inland water transportation
Tax administration and collection, taxpayers
Capital Construction Fund Penalty Relief Act
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 13, 2013
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1788-1789)
Mar 13, 2013
Sponsor introductory remarks on measure. (CR S1787-1788)
Mar 13, 2013
Introduced in Senate
Plain-English summary
Capital Construction Fund Penalty Relief Act - Permits any person who entered into a capital construction fund agreement (an agreement to provide replacement vessels, additional vessels, or reconstructed vessels) with respect to certain vessels operated in the fisheries of the United States to make an election to terminate the capital construction fund established under such agreement.
Amends the Internal Revenue Code to prescribe requirements regarding the effect of such an election, including the distribution and taxation of such funds, on individuals and entities.
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1788-1789)
Committees of jurisdiction
1