A bill to amend the Internal Revenue Code of 1954 to exempt from the windfall profit tax oil produced from interests held by or for residential child care agencies.
Child Care Agency Tax Amendments of 1980 - Amends the Internal Revenue Code to exempt from the windfall profit tax oil produced from interests held by or for a residential child care agency. Defines such an agency as a tax-exempt charitable organization operated primarily for the residential placement, care, or treatment of delinquent, dependent, neglected, or handicapped children.
Introduced in Senate
Read second time and referred to Senate Committee on Finance.
Subcommittee on Energy and Agricultural Taxation took the following actions.
Committee on Finance requested executive comment from OMB; Treasury Department, Energy Department.
Subcommittee on Energy and Agricultural Taxation. Hearings held.
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