S. 1240 — A bill to amend the Internal Revenue Code of 1986 to provide a partial inflation adjustment for capital gains from the sale or exchange of timber.

Summary

Amends the Internal Revenue Code to allow a deduction to a taxpayer who has a qualified timber gain in an amount equal to the qualified percentage of such gain.

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Legislative Actions

1999-06-17
Introduced in Senate
1999-06-17
Sponsor introductory remarks on measure. (CR S7229-7231)
1999-06-17
Read twice and referred to the Committee on Finance.

A bill to amend the Internal Revenue Code of 1986 to provide a partial inflation adjustment for capital gains from the sale or exchange of timber.

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Summary

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Legislative Actions

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