H.R. 1198 — A bill to amend the Internal Revenue Code of 1954 to add a method of valuing farm land owned by a private foundation for purposes of determining whether the foundation is an operating foundation.

Summary

Amends the Internal Revenue Code to provide that, for purposes of determining whether a private foundation is an operating foundation, the private foundation may use the estate tax valuation for a farm: (1) owned by the foundation on January 1, 1982; or (2) acquired by the foundation from a decedent dying after December 31, 1981.

Full Text

Related Legislation

H.R. 1898A bill to apply duty-free treatment to imported water chestnuts and bamboo shoots.
1983-06-07Forwarded by Subcommittee to Full Committee (Amended).
Related
S. 1158A bill to apply duty-free treatment to imported water chestnuts and bamboo shoots.
1983-11-07Committee on Finance. Provisions of measure incorporated into measure H.R. 3398 ordered to be reported.
Related

Legislative Actions

1983-02-02
Introduced in House
1983-02-02
Introduced in House
1983-02-02
Referred to House Committee on Ways and Means.

A bill to amend the Internal Revenue Code of 1954 to add a method of valuing farm land owned by a private foundation for purposes of determining whether the foundation is an operating foundation.

Sponsors

Subjects

Summary

Full Text

Related Legislation

Legislative Actions

Ask about this bill