A bill to amend the Internal Revenue Code of 1954 to deny deductions for interest paid or incurred on loans in connection with an unfriendly takeover, or attempted takeover, of a corporation.
Merger Control Act of 1981 - Amends the Internal Revenue Code to disallow an income tax deduction for interest paid or incurred on any loan which is used to acquire stock in order to gain control of a corporation, if the Board of Directors disapproves of the proposed acquisition by a majority vote.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Select Revenue Measures.
Subcommittee Hearings Held.
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