S. 1807 — A bill to amend the Internal Revenue Code of 1954 to clarify the taxation of certain income derived from agricultural commodities not grown in the United States in commercially marketable quantities.

Summary

Amends the Internal Revenue Code to exclude from foreign personal holding company income, dividends received from controlled foreign corporations which derive a specified percentage of their gross income from the purchase or sale of agricultural commodities which were not grown in the United States in commercially marketable quantities.

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Legislative Actions

1983-08-04
Introduced in Senate
1983-08-04
Read twice and referred to the Committee on Finance.
1983-08-20
Committee on Finance requested executive comment from OMB, Treasury Department, Agriculture Department.
1983-10-28
Subcommittee on Taxation and Debt Management. Hearings held. Hearings printed: S.Hrg. 98-718.

A bill to amend the Internal Revenue Code of 1954 to clarify the taxation of certain income derived from agricultural commodities not grown in the United States in commercially marketable quantities.

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