S 1327 · 109th Congress · Taxation

A bill to amend the Internal Revenue Code of 1986 to modify the active business definition under section 355.

Introduced 2005-06-29· Sponsored by Sen. Lott, Trent [R-MS]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Read twice and referred to the Committee on Finance.(2005-06-29)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to treat all members of a corporation's separate affiliated group as one corporation for purposes of determining whether such corporation and its subsidiaries meet the active business test required for corporations seeking nonrecognition of gain from the distribution of property in a reorganization.…

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

Cosponsors (1)

1 Democrat
Sen. Baucus, Max [D-MT]MT