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- S.1481
S.1481: A bill to amend the Internal Revenue Code of 1986 to provide for the nonrecognition of gain for sale of stock to certain farmers' cooperatives, and for other purposes.
About This Bill
- This bill was introduced in the 104th Congress
- This bill is primarily about taxation
- Introduced Dec. 15, 1995
- Latest Major Action Dec. 15, 1995
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
5 (1 Democrat, 4 Republicans)
Bill Summary
Amends the Internal Revenue Code to provide for the nonrecognition of gain for sales of stock of a qualified refiner or processor to an eligible farmer's cooperative. Raises from 30 to 100 percent the amount of stock an employee stock ownership (ESOP) plan or cooperative must hold after a sale. Sets forth provisions concerning the determination of whether any stock in the domestic corporation is a qualified security.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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| Dec. 15, 1995 |
Introduced in the Senate by Orrin G. Hatch (R-Utah) |