Amends the Internal Revenue Code to permit the reinvestment of proceeds from the sale or exchange of a radio or television broadcasting station required to effectuate policies of the Federal Communications Commission (FCC) in a newspaper without the loss of preferential tax treatment (i.e. nonrecognition of the gain from such sale or exchange as an involuntary conversion).
Referred to House Committee on Ways and Means.
Introduced in Senate
Read second time and referred to Senate Committee on Finance.
Subcommittee on Energy and Agricultural Taxation took the following actions.
Subcommittee on Taxation and Debt Management took the following actions.
Committee on Finance requested executive comment from OMB; Treasury Department.
Subcommittee on Energy and Agricultural Taxation. Hearings held.
Subcommittee on Taxation and Debt Management. Hearings held.
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