HR 6315
98th Congress
House
Taxation
Bonds
Economics and Public Finance
Excise tax
Government securities
Income tax
Interest
Securities
Securities and Investments
Tax deductions
Withholding tax
A bill to prohibit the issuance in bearer form of Treasury obligations or of securities which are interests in Treasury obligations, and for other purposes.
Introduced: September 26, 1984
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 26, 1984
Referred to House Committee on Ways and Means.
Sep 26, 1984
Introduced in House
Plain-English summary
Requires that every obligation of the United States be issued in registered form.
Amends the Internal Revenue Code to prohibit the issuance in bearer form of securities which are interests in U.S. Government-backed securities.
Imposes a three percent excise tax on the issuer of registration-required U.S. Government-backed securities which are not issued in registered form. Provides that the issue price of any U.S. Government-backed security shall be treated as the principal amount of the obligation.
Imposes a 30 percent withholding tax on interest received by foreigners from U.S. Government-backed securities.
What's happening now
Referred to House Committee on Ways and Means.
Committees of jurisdiction
1