Skip to main content
HR 3907 98th Congress House Taxation Corporations Corporations and Stocks Income tax Stocks Tax deductions Tax incentives

Equity Capital Formation Incentive Act of 1983

Introduced: September 15, 1983 Introduced by: Markey, Edward J. Democratic · Massachusetts See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 15, 1983
Referred to House Committee on Ways and Means.
Sep 15, 1983
Introduced in House
 Plain-English summary Congressional Research Service

Equity Capital Formation Incentive Act of 1983 - Amends the Internal Revenue Code to allow an income tax deduction to corporations engaged in market making activities (purchase and sale of certain stocks) for additions to the reserve for gains for such market making activities.

Disallows such deduction if: (1) the additions to the reserve exceed 30 percent of the fair market value of average positions carried for market activities during the taxable year; or (2) at the end of the taxable year the reserve exceeds $1,000,000.

Sets forth definitions and special rules.

What's happening now September 15, 1983

Referred to House Committee on Ways and Means.

 Committees of jurisdiction 1