US HB4486 | 2009-2010 | 111th Congress
Status
Spectrum: Partisan Bill (Democrat 29-0)
Status: Introduced on January 21 2010 - 25% progression, died in committee
Action: 2010-01-21 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 21 2010 - 25% progression, died in committee
Action: 2010-01-21 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code to treat securities and nonqualified preferred stock paid to a parent corporation by a subsidiary in a corporate reorganization as cash payments, thus subjecting the gain attributable to such payments to tax.
Title
To amend the Internal Revenue Code of 1986 to treat distributions of debt securities in a tax free spin-off transaction in the same manner as distributions of cash or other property.
Sponsors
| Rep. Michael Arcuri [D-NY] | Rep. Jerry Costello [D-IL] | Rep. Peter DeFazio [D-OR] | Rep. Keith Ellison [D-MN] |
| Rep. Barney Frank [D-MA] | Rep. Gabrielle Giffords [D-AZ] | Rep. Paul Hodes [D-NH] | Rep. Henry Johnson [D-GA] |
| Rep. Steve Kagen [D-WI] | Rep. Marcy Kaptur [D-OH] | Rep. Dennis Kucinich [D-OH] | Rep. Eric Massa [D-NY] |
| Rep. Betty McCollum [D-MN] | Rep. Michael Michaud [D-ME] | Rep. Alan Mollohan [D-WV] | Rep. Grace Napolitano [D-CA] |
| Rep. James Oberstar [D-MN] | Rep. John Olver [D-MA] | Rep. Collin Peterson [D-MN] | Rep. Chellie Pingree [D-ME] |
| Rep. Nick Rahall [D-WV] | Rep. Janice Schakowsky [D-IL] | Rep. Carol Shea-Porter [D-NH] | Rep. Louise Slaughter [D-NY] |
| Rep. Betty Sutton [D-OH] | Rep. John Tierney [D-MA] | Sen. Chris Van Hollen [D-MD] | Rep. Timothy Walz [D-MN] |
| Sen. Peter Welch [D-VT] |
History
| Date | Chamber | Action |
|---|---|---|
| 2010-01-21 | Referred to the House Committee on Ways and Means. |
Subjects
Capital gains tax
Corporate finance and management
Securities
Tax administration and collection, taxpayers
Taxation
Corporate finance and management
Securities
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/111th-congress/house-bill/4486/all-info |
| Text | https://www.congress.gov/111/bills/hr4486/BILLS-111hr4486ih.pdf |
