GovTrack’s Bill Summary
We don’t have a summary available yet.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Amends the Internal Revenue Code to provide that the special deduction and rules extended to certain existing Blue Cross or Blue Shield organizations shall be extended to an organization that is not a health maintenance organization and is organized under and governed by State laws which are specifically and exclusively applicable to not-for-profit health insurance or health service type organizations.
Provides that the limitation on deductions for certain dividends paid on employer securities held in an employee stock ownership plan does not apply to employer securities acquired with assets transferred from a defined benefit plan through an employer reversion transaction.
Declares that the characterization (at the time of issuance) of a corporate interest as stock or debt by the corporate issuer is binding on the issuer and on all holders (but not binding on the Secretary of the Treasury). Requires holders who treat such interest in an inconsistent manner to disclose such inconsistent treatment on the first tax return for the first year during which such instrument was held.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.