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- S.3254
S.3254: A bill to amend the Internal Revenue Code of 1986 to allow banks to be taxed as limited liability companies, and for other purposes.
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced July 11, 2008
- Latest Major Action July 11, 2008
Bill Sponsor
Bill Cosponsor
Bill Summary
Amends the Internal Revenue Code to allow a state-chartered banking entity to elect to be treated as a partnership or separate entity for tax purposes if it is organized as a limited liability company under state law and has Federal Deposit Insurance Corporation (FDIC) insurance. Exempts such an entity from treatment as a bank under the Internal Revenue Code for purposes of its bad debts, losses, gains from the sale of its securities, and the...
(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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| July 11, 2008 |
Introduced in the Senate by Orrin G. Hatch (R-Utah) |