H.R.1479: To amend the Internal Revenue Code of 1986 to allow the use of completed contract method of accounting in the case of certain long-term naval vessel construction contracts.

About This Bill

Bill Summary

Amends the Internal Revenue Code to permit a taxpayer who owns and operates a shipyard to elect to use the completed contract accounting method with respect to an qualified naval construction contract (more than 24 months in duration).

(Source: Library of Congress)

Bill Actions

Date Description
Referred to the House Committee on Ways and Means.
March 27, 2003

Introduced in the House by Nancy Lee Johnson (R-Conn.)

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