HR 242 · 104th Congress · Taxation
To extend the retroactive period during which farm insolvency transactions are exempt from the prior law alternative minimum tax.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Sponsor introductory remarks on measure. (CR E54)(1995-01-05)
Plain Language Summary
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Amends the Consolidated Omnibus Budget Reconciliation Act of 1985 to exempt farm insolvency transactions made after December 31, 1978, from alternative minimum tax (under prior law), thus effecting a three-year extension of the retroactive period that already exists.…
Summarized by Claude AI · Non-partisan · For informational purposes only