A bill to amend the Internal Revenue Code of 1954 to include the Banks for Cooperatives among the other financial institutions subject to the provisions of Subsection 582(c) and Section 595(a) of such code.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that the general rules for banks which stipulate that sales of debt instruments are not sales of capital assets, and that foreclosures of secured property do not cause recognized gains or losses, shall also apply to banks for farm cooperatives.…