HR 3137
98th Congress
House
Taxation
Corporation taxes
Corporations and Stocks
Income tax
Interest
Loans
Tax deductions
Tender offers
First Things First Credit Act of 1983
Introduced: May 25, 1983
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 22, 1984
Referred to Subcommittee on Select Revenue Measures.
May 25, 1983
Referred to House Committee on Ways and Means.
May 25, 1983
Introduced in House
Plain-English summary
First Things First Credit Act of 1983 - Amends the Internal Revenue Code to disallow an income tax deduction for interest paid or incurred on any loan which is used to acquire control of a corporation which has more than $250,000,000 in gross receipts for the year preceding the year of the acquisition.
What's happening now
Referred to Subcommittee on Select Revenue Measures.
Committees of jurisdiction
2
Cosponsors
1