To amend the Internal Revenue Code of 1986 to allow the use of completed contract method of accounting in the…

Full title

To amend the Internal Revenue Code of 1986 to allow the use of completed contract method of accounting in the case of certain long-term naval vessel construction contracts.

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

NJR JohnsonSponsor

24 cosponsors · 7 D, 17 R

4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Amends the Internal Revenue Code to permit a taxpayer who owns and operates a shipyard to elect to use the completed contract accounting method with respect to an qualified naval construction contract (more than 24 months in duration).

What it does: CRS summary · Introduced in House · Mar 27, 2003

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: To amend the Internal Revenue Code of 1986 to allow the use of completed contract method of accounting in the case of certain long-term naval vessel construction contracts.

Latest action (Mar 27, 2003): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Mar 27, 2003

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.