S 2691
98th Congress
Senate
Taxation
Accounting
Beverage containers
Beverages
Environmental Protection
Food and Food Industry
Income tax
Recycling of waste products
Refuse and refuse disposal
Tax deductions
A bill to amend the Internal Revenue Code of 1954 to allow a deduction for additions to reserves for refunds of beverage container deposits.
Introduced: May 18, 1984
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 1984
Committee on Finance requested executive comment from OMB, Treasury Department.
May 18, 1984
Read twice and referred to the Committee on Finance.
May 18, 1984
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to allow a wholesale distributor of beverages to deduct a reasonable addition to a reserve fund for refunds of beverage container deposits. Directs the Secretary of the Treasury to promulgate regulations which will limit the amount of the deduction allowable for the first year the taxpayer elects such procedure. Directs the Secretary to prescribe regulations as to the time and manner a taxpayer may make such election. Requires the Secretary to consent to a revocation of this election.
What's happening now
Committee on Finance requested executive comment from OMB, Treasury Department.
Committees of jurisdiction
1
Cosponsors
1