HR 676 · 98th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to provide that certain indebtedness incurred by educational organizations in acquiring or improving real property shall not be treated as acquisition indebtedness for purposes of the tax on unrelated business taxable income.

Introduced 1983-01-06· Sponsored by Rep. Shannon, James M. [D-MA-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: See H.R.4170.(1984-06-27)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide that indebtedness incurred by certain educational organizations or deferred compensation plans in acquiring or improving real property shall not be treated as acquisition indebtedness for purposes of the tax on unrelated business taxable income.…

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

Cosponsors (20)

14 Democrats6 Republicans
Rep. Martin, James G. [R-NC-9]NC
Rep. Gephardt, Richard A. [D-MO-3]MO
Rep. Boland, Edward P. [D-MA-2]MA
Del. Won Pat, Antonio B. [D-GU-At Large]GU
Rep. Brown, Hank [R-CO-4]CO
Del. Sunia, Foto I. F. [D-AS-At Large]AS
Rep. Robinson, J. Kenneth [R-VA-7]VA
Rep. Dwyer, Bernard J. [D-NJ-6]NJ
Rep. Moakley, John Joseph [D-MA-9]MA
Rep. Mrazek, Robert J. [D-NY-3]NY
Rep. Fazio, Vic [D-CA-4]CA
Rep. Wilson, Charles [D-TX-2]TX
Rep. Wyden, Ron [D-OR-3]OR
Rep. Edgar, Robert W. [D-PA-7]PA
Rep. Roe, Robert A. [D-NJ-8]NJ
Rep. Nielson, Howard C. [R-UT-3]UT
Rep. Garcia, Robert [D-NY-18]NY
Rep. Bedell, Berkley W. [D-IA-6]IA
Rep. Martin, Lynn M. [R-IL-16]IL
Rep. Frenzel, Bill [R-MN-3]MN