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HR 4938 97th Congress House Taxation Art Art objects Arts, Culture, Religion Income tax Individual retirement accounts Tax deductions

A bill to repeal the provision added by the Economic Recovery Tax Act of 1981 which treats investments by individual retirement plans in collectibles as distributions.

Introduced: November 10, 1981 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 10, 1981
Referred to House Committee on Ways and Means.
Nov 10, 1981
Introduced in House
 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to repeal the provision which treats investments by individual retirement accounts and other retirement plans in collectibles as distributions equal to the cost of the collectible. Defines "collectibles" as items such as artworks, antiques, gems and coins.

What's happening now November 10, 1981

Referred to House Committee on Ways and Means.

 Committees of jurisdiction 1