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- S.1637
S.1637: Expatriation Tax Reform Act of 1996
About This Bill
- This bill was introduced in the 104th Congress
- This bill is primarily about taxation
- Introduced March 21, 1996
- Latest Major Action March 21, 1996
Bill Sponsor
Bill Summary
Expatriation Tax Reform Act of 1996 - Amends the Internal Revenue Code to provide that if a U.S. citizen relinquishes citizenship, all property held by such citizen at the time immediately before relinquishment shall be treated as sold at such time for its fair market value and any gain or loss shall be subject to U.S. income tax. Permits an expatriate to elect to continue to be taxed as a United States citizen, in which case the provisions...
(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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| March 21, 1996 |
Introduced in the Senate by Tom Harkin (D-Iowa) |