HR 7069 · 95th Congress · Taxation

Tax Equalization Act

Introduced 1977-05-10· Sponsored by Rep. Burke, James A. [D-MA-11]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1977-05-10)

Plain Language Summary

[AI summary unavailable — showing source text] Tax Equalization Act - Amends the Internal Revenue Code to repeal the tax exempt status of farmers' cooperatives and the special tax treatment of certain other cooperatives. Disallows to cooperatives any deduction for patronage dividends paid by them. Includes patronage dividends within the amounts excludible as dividends received by individuals and corporations.…

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