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- H.R.1060
H.R.1060: Distorting Subsidies Limitation Act of 1999
About This Bill
- This bill was introduced in the 106th Congress
- This bill is primarily about taxation
- Introduced March 10, 1999
- Latest Major Action March 10, 1999
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
4 (4 Democrats, 1 Independent Democrat)
Bill Summary
Distorting Subsidies Limitation Act of 1999 - Amends the Internal Revenue Code to impose an excise tax on any person engaged in a trade or business who derives any benefit from any targeted subsidy provided by a State or local government. Defines such a subsidy as one which is designed to encourage a business to locate or remain in a particular jurisdiction. Denies a tax exemption for any interest earned on bonds which provide such subsidies....
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| March 10, 1999 |
Introduced in the House by David Minge (D-Minn.) |