Skip to main content
HR 242 99th Congress House Taxation Bonds Capital gains tax Debt Income tax Interest Negotiable instruments Tax administration

A bill to repeal the changes made by the Tax Reform Act of 1984 with respect to the tax treatment of debt instruments issued for property.

Introduced: January 3, 1985 See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 99th Congress ended
It never became law before the 99th Congress (1985–1986) 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
Apr 24, 1985
Committee Hearings Held.
Jan 3, 1985
Referred to House Committee on Ways and Means.
Jan 3, 1985
Introduced in House
 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 repeal rules relating to the determination of the issue price of certain debt instruments issued for property.

Amends the Tax Reform Act of 1984 to repeal the revisions made to rules for the imputation of interest on certain deferred payments. Provides that the Internal Revenue Code shall be applied and administered as if such revisions had not been enacted.

What's happening now April 24, 1985

Committee Hearings Held.

 Related & companion bills 1
  • HR 878 Identical bill A bill to repeal the changes made by the Tax Reform Act of 1984 with respect to the tax treatment of debt instruments i…
 Committees of jurisdiction 1
 Cosponsors 5
All 5 Democratic 3 Republican 2
R
Rogers, Harold
Kentucky · Feb 19, 1985
 R
Smith, Christopher H.
New Jersey · Feb 4, 1985
 D
Durbin, Richard J.
Illinois · Jan 31, 1985
 D
Kaptur, Marcy
Ohio · Jan 22, 1985
 D
Wyden, Ron
Oregon · Jan 22, 1985
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 242: A bill to repeal the changes made by the Tax Reform Act of 1984 with respect to the tax treatment of debt instruments issued for property.. 99th Congress. Open America. https://openamerica.io/bill/99-HR-242/
MLA
"H.R. 242: A bill to repeal the changes made by the Tax Reform Act of 1984 with respect to the tax treatment of debt instruments issued for property.." 99th Congress, 2026, Open America, https://openamerica.io/bill/99-HR-242/.
Bluebook (legal)
H.R. 242, 99th Cong. (2026), https://openamerica.io/bill/99-HR-242/.
Markdown link
[H.R. 242: A bill to repeal the changes made by the Tax Reform Act of 1984 with respect to the tax treatment of debt instruments issued for property.](https://openamerica.io/bill/99-HR-242/)
Report a problem