HR 3052 · 94th Congress · Finance and Financial Sector

A bill to amend section 512(b) (5) of the Internal Revenue Code of 1954 with respect to the tax treatment of the gain on the lapse of options to buy or sell securities.

Introduced 1975-02-06· Sponsored by Rep. Rostenkowski, Dan [D-IL-8]· House

Bill Progress

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Introduced
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Committee
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House Vote
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Senate
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Enacted
Latest: Public law 94-396.(1976-09-03)

Plain Language Summary

[AI summary unavailable — showing source text] Excludes, under the Internal Revenue Code of 1954, the gain on the lapse of options to buy or sell securities for purposes of computing the tax on the unrelated business income of charitable organizations.…

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