HR 3643 · 103th Congress · Taxation

Welfare Opportunities and Pay Back Act

Introduced 1993-11-22· Sponsored by Rep. Franks, Gary A. [R-CT-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1993-11-22)

Plain Language Summary

[AI summary unavailable — showing source text] Welfare Opportunities and Pay Back Act - Amends the Internal Revenue Code to allow a deduction for equity contributions made by certain domestic corporations to their welfare opportunity financing subsidiaries to make business loans to qualified small business concerns. Provides for repayments of certain welfare benefits by borrowers of such loans.…

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