S 2689 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to treat the acquisition by certain corporations of their own stock or that of an affiliate as a distribution of property to the corporation's remaining shareholders.

Introduced 1982-06-29· Sponsored by Sen. Danforth, John C. [R-MO]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB; Treasury Department.(1982-07-01)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that when a publicly-traded corporation purchases its own stock, or the stock of an affiliate, the purchase shall be taxed as a distribution of property to the shareholders of the corporation.…

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