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Searching...- Bills
- H.R.1994
H.R.1994: Small Business and Financial Institutions Tax Relief Act of 1999
About This Bill
- This bill was introduced in the 106th Congress
- This bill is primarily about taxation
- Introduced May 27, 1999
- Latest Major Action May 27, 1999
- See the three similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
16 (3 Democrats, 14 Republicans)
Bill Summary
Small Business and Financial Institutions Tax Relief Act of 1999 - Amends the Internal Revenue Code to permit S corporation eligible shareholders to include individual retirement accounts (IRAs). (Sec. 2) Exempts from prohibited transaction rules any sale of stock in an IRA pursuant to a small business corporation's election to be an S corporation. (Sec. 3) Excludes from the definition of passive income for purposes of S status termination any...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| May 27, 1999 |
Introduced in the House by Scott McInnis (R-Colo.) |