HR 3592 · 101th Congress · Taxation

To amend the Internal Revenue Code of 1986 to impose an excise tax on optional extended warranty and service contracts having an expected cost to the issuer of less than 50 percent of the cost to the consumer.

Introduced 1989-11-07· Sponsored by Rep. Chandler, Rod D. [R-WA-8]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1989-11-07)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to impose a 60 percent excise tax on the sale of certain optional extended warranty and service contracts, to be paid by the person receiving the payment from the sale. Makes such taxes nondeductible.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Donnelly, Brian J. [D-MA-11]MA