S 441 · 99th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to revise the withholding rules relating to certain pari-mutuel wagering payouts.

Introduced 1985-02-07· Sponsored by Sen. Ford, Wendell H. [D-KY]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB, Treasury Department.(1985-02-14)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the threshold amount to $5,000 (currently $1,000) for purposes of determining the necessity of withholding tax on certain wagering activities. Phases in this increased threshold amount over a period of five years.…

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

Cosponsors (1)

1 Republican
Sen. McConnell, Mitch [R-KY]KY