H.R. 3501 · 110th Congress
To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in…
Full title
To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax.
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
LevinSponsor10 cosponsors · 10 D
D
Blumenauer
SB
D
Berkley
JL
D
Lewis
JM
D
McDermott
BP
D
Pascrell
EP
D
Pomeroy
CV
D
Van Hollen
LD
D
Doggett
RE
D
Emanuel
LS
D
Slaughter7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends Internal Revenue Code provisions relating to the tax on the unrelated business income of tax-exempt organizations to exempt from treatment as acquisition indebtedness (subject to the unrelated business income tax) indebtedness incurred or continued by a limited partnership in a partnership to purchase or carry certain securities or commodities.
What it does: CRS summary · Introduced in House · Sep 7, 2007
Amends Internal Revenue Code provisions relating to the tax on the unrelated business income of tax-exempt organizations to exempt from treatment as acquisition indebtedness (subject to the unrelated business income tax) indebtedness incurred or continued by a limited partnership in a partnership to purchase or carry certain securities or commodities.
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 provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax.
Latest action (Sep 7, 2007): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Sep 7, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.