HR 10304 · 93th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to clarify and confirm the application of section 72 and the nonapplication of section 1282 to face-amount certificates.

Introduced 1973-09-17· Sponsored by Rep. Karth, Joseph E. [D-MN-4]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1973-09-17)

Plain Language Summary

[AI summary unavailable — showing source text] Allows an income tax exclusion under the Internal Revenue Code for face-amount certificates. Disallows the capital gains and loss treatment of such face-amount certificates.…

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