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- H.R.3497
H.R.3497: To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness for purposes of determining the unrelated business taxable income of organ
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
3 (All Democrats)
Bill Summary
Amends Internal Revenue Code provisions relating to the tax on the unrelated business income of tax-exempt organizations to exempt from treatment as acquisition indebtedness (subject to the unrelated business income tax) indebtedness incurred or continued by an organization which is a partner with limited liability in a partnership to purchase or carry certain securities or commodities.
(Source: Library of Congress)
Bill Actions
Date | Description |
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Referred to the House Committee on Ways and Means.
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July 31, 2009 |
Introduced in the House by Sander M. Levin (D-Mich.) |