S 1079 · 96th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to permit farmers and small businesses to obtain the investment credit for used section 38 property acquired from a related party.

Introduced 1979-05-07· Sponsored by Sen. Pressler, Larry [R-SD]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Finance.(1979-05-07)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to permit farmers and small businesses to obtain the investment tax credit for certain types of business property acquired from a related party.…

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

Cosponsors (2)

2 Republicans
Sen. Young, Milton R. [R-ND]
Sen. Schmitt, Harrison H. [R-NM]