HR 242 · 104th Congress · Taxation

To extend the retroactive period during which farm insolvency transactions are exempt from the prior law alternative minimum tax.

Introduced 1995-01-04· Sponsored by Rep. Emerson, Bill [R-MO-8]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Sponsor introductory remarks on measure. (CR E54)(1995-01-05)

Plain Language Summary

[AI summary unavailable — showing source text] 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