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- H.R.61
H.R.61: To amend the Internal Revenue Code of 1986 to provide that the percentage of completion method of accounting shall be required to be used with respect to contracts for the manufacture of property if no payments are required to be made before the completio
About This Bill
- This bill was introduced in the 108th Congress
- This bill is primarily about taxation
- Introduced Jan. 7, 2003
- Latest Major Action Jan. 7, 2003
Bill Sponsor
Bill Summary
Amends the rules of the Internal Revenue Code concerning the required use of the percentage completion method of accounting for long-term contracts (Section 460) with respect to the special rule for manufacturing contracts to revise such special rule to require that a contract for the manufacture of property shall not be treated as a long-term contract unless: (1) such contract involves the manufacture of any unique item of a type which is not...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| Jan. 7, 2003 |
Introduced in the House by Vernon J. Ehlers (R-Mich.) |