S. 1654 · 113th Congress
Government Settlement Transparency and Reform Act
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ReedSponsor10 cosponsors · 6 D, 3 R, 1 I
R
Grassley
JM
R
McCain
EW
D
Warren
LM
R
Murkowski
BN
D
Nelson
BS
I
Sanders
JS
D
Shaheen
JT
D
Tester
PL
D
Leahy
TB
D
Baldwin1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Government Settlement Transparency and Reform Act - Amends the Internal Revenue Code to expand provisions relating to the nondeductibility of fines and penalties, to prohibit a tax deduction for any amount paid or incurred to any governmental entity relating to the violation of any law or the investigation or inquiry into a potential violation of law.
What it does: CRS summary · Introduced in Senate · Nov 5, 2013
Government Settlement Transparency and Reform Act - Amends the Internal Revenue Code to expand provisions relating to the nondeductibility of fines and penalties, to prohibit a tax deduction for any amount paid or incurred to any governmental entity relating to the violation of any law or the investigation or inquiry into a potential violation of law. Exempts from such prohibition: (1) restitution or amounts paid to come into compliance with any law that was violated or otherwise involved in the investigation or inquiry, (2) amounts paid pursuant to a court order in a suit in which the governmental entity was not a party, and (3) amounts paid or incurred as taxes due. Imposes new reporting requirements on governmental entities relating to amounts paid as fines or for restitution.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Government Settlement Transparency and Reform Act
Latest action (Nov 5, 2013): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Nov 5, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.