HR 10926 · 94th 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 1232 to face-amount certificates.

Introduced 1975-12-02· 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.(1975-12-02)

Plain Language Summary

[AI summary unavailable — showing source text] States that face-amount certificates shall be considered endowment contracts rather than bonds for purposes of the Internal Revenue Code.…

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