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- H.R.3439
H.R.3439: Close the SILO/LILO Loophole Act of 2009
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about taxation
- Introduced July 31, 2009
- Latest Major Action July 31, 2009
Bill Sponsor
Bill Cosponsors
17 (17 Democrats, 1 Republican)
Bill Summary
Close the SILO/LILO Loophole Act of 2009 - Amends the Internal Revenue Code to: (1) impose a 100% excise tax on any income or benefits received from a SILO (sale-in/lease-out) or LILO (lease-in/lease-out) transaction involving a financial institution and a public entity; and (2) deny a tax deduction for attorney fees or other costs incurred by a party to a SILO or LILO transaction seeking to enforce the terms of such transaction.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| July 31, 2009 |
Introduced in the House by John Lewis (D-Ga.) |