Tax Policy Review Act

[AI summary unavailable — showing source text] Tax Policy Review Act - Title I: Provisions to Terminate on January 1, 1974: Provides that the following provisions of the Internal Revenue Code of 1954 shall terminate on January 1, 1974: (1) the $30,000 exemption and deduction of regular income taxes for the minimum tax on preferences; (2) treatment of group-term life insurance purchased for employees; (3) exclusion from gross income of $5,000 employee's death benefit; (4) exemption from tax of $100 of dividends received by individuals; (5) treatment of lost from certain nonbusiness guaranties; (6) twenty-percent variation under the asset depreciation range system; (7) capital gain treatment for lump-sum distribution from pension funds; (8) treatment of employee stock options; (9) tax exemption of credit unions and mutual insurance funds for certain financial institutions; (10) treatment of bad debt reserves of banks and other financial institutions; (11) percentage depletion for oil, gas, and other minerals; (12) capital gain for timber, coal, and iron ore royalties; (13) exclusion of gross-up on dividends of less developed countries corporations; (14) exemption of earned income from foreign sources; (15) alternative tax capital…