HR 2960 · 104th Congress · Taxation

To amend the Internal Revenue Code of 1986 to provide that amounts derived from Federal grants in connection with revolving funds established in accordance with the Federal Water Pollution Control Act will not be treated as investment property for purposes of section 148 of such Code.

Introduced 1996-02-01· Sponsored by Rep. Zimmer, Dick [R-NJ-12]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1996-02-01)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude amounts derived from Federal grants made in connection with a revolving fund established in accordance with the Federal Water Pollution Control Act from characterization as higher yielding investments.…

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

Cosponsors (2)

2 Republicans
Rep. Blute, Peter I. [R-MA-3]MA
Rep. Johnson, Nancy L. [R-CT-6]CT