HR 10653 · 95th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 with respect to the redemption of United States Railway Association certificates of value issued to railroads in reorganization.

Introduced 1978-01-31· Sponsored by Rep. Cotter, William R. [D-CT-1]· House

Bill Progress

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Introduced
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Committee
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House Vote
4
Senate
5
Enacted
Latest: Referred to Senate Committee on Finance.(1978-10-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow income derived from a certificate of value of the United States Railway Corporation issued to a corporation which is a member of an affiliated group of corporations to be offset by the expired net operating loss carryover deductions of other members of the affiliated group.…

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