S 2894
98th Congress
Senate
Taxation
Agriculture and Rural Affairs
Commerce
Farms
Housing and Community Development
Housing and Housing Finance
Housing finance
Income tax
Interest
Real property
Tax administration
A bill to amend the Internal Revenue Code of 1954 to clarify the application of the imputed interest and interest accrual rules in the case of sales of residences, farms, and real property used in a trade or business.
Introduced: July 31, 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
Aug 20, 1984
Committee on Finance requested executive comment from OMB, Treasury Department.
Jul 31, 1984
Read twice and referred to the Committee on Finance.
Jul 31, 1984
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to reduce the rate of imputed interest for: (1) the first $250,000 of the sale price of residential property sold by an individual; (2) the first $1,500,000 of the sale price of farm property sold by an individual, partnership, estate or small business corporation; and (3) the first $500,000 of the sale price of real property associated with the sale of a trade or business.
What's happening now
Committee on Finance requested executive comment from OMB, Treasury Department.
Committees of jurisdiction
1
Cosponsors
1