Skip to main content
S 1738 98th Congress Senate Taxation Accounting Business and commerce Income tax Internal revenue law Inventories Small business Tax administration

A bill to amend the Internal Revenue Code of 1954 to permit small businesses to reduce the value of excess inventory.

Introduced: August 3, 1983 See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 98th Congress ended
It never became law before the 98th Congress (1983–1984) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 9, 1983
Committee on Finance requested executive comment from OMB, Treasury Department.
Aug 3, 1983
Read twice and referred to the Committee on Finance.
Aug 3, 1983
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to permit a domestic trade or business whose equity capital does not exceed $25,000,000 to reduce the value of a portion of excess inventory items held for more than 12 months.

Permits a taxpayer who is required to change his method of accounting pursuant to Revenue Ruling 80-60 (inventory valuation) and Revenue Procedure 80-5 to effect such a change only for taxable years beginning after December 31, 1982.

What's happening now August 9, 1983

Committee on Finance requested executive comment from OMB, Treasury Department.

 Related & companion bills 1
  • HR 3802 Identical bill A bill to amend the Internal Revenue Code of 1954 to permit small businesses to reduce the value of excess inventory.
 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Aug 3, 1983
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1738: A bill to amend the Internal Revenue Code of 1954 to permit small businesses to reduce the value of excess inventory.. 98th Congress. Open America. https://openamerica.io/bill/98-S-1738/
MLA
"S. 1738: A bill to amend the Internal Revenue Code of 1954 to permit small businesses to reduce the value of excess inventory.." 98th Congress, 2026, Open America, https://openamerica.io/bill/98-S-1738/.
Bluebook (legal)
S. 1738, 98th Cong. (2026), https://openamerica.io/bill/98-S-1738/.
Markdown link
[S. 1738: A bill to amend the Internal Revenue Code of 1954 to permit small businesses to reduce the value of excess inventory.](https://openamerica.io/bill/98-S-1738/)
Report a problem