HR 5418 · 93th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954, to provide that certain recapture provisions shall not apply in the case of the liquidation of certain corporations wholly owned by a municipal corporation.

Introduced 1973-03-08· Sponsored by Rep. Johnson, Albert W. [R-PA-23]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1973-03-08)

Plain Language Summary

[AI summary unavailable — showing source text] Provides, under the Internal Revenue Code, that specified recapture provisions shall not apply in the case of the liquidation of corporations wholly owned by a municipal corporation. (Adds 26 U.S.C. 1245(b)(7))…

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