H.R. 1443 (105th): To amend the Revenue Act of 1987 to provide a permanent extension of the transition rule for ...

...certain publicly traded partnerships.

105th Congress, 1997–1998. Text as of Apr 24, 1997 (Introduced).

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HR 1443 IH

105th CONGRESS

1st Session

H. R. 1443

To amend the Revenue Act of 1987 to provide a permanent extension of the transition rule for certain publicly traded partnerships.

IN THE HOUSE OF REPRESENTATIVES

April 24, 1997

Mr. HOUGHTON (for himself, Mr. KLECZKA, Mr. BUNNING, Mr. HERGER, Mr. CRANE, Mr. ENGLISH of Pennsylvania, Mr. CHRISTENSEN, Mr. MCCRERY, Mr. MCNULTY, Mrs. KENNELLY of Connecticut, Mr. NEAL of Massachusetts, Ms. DUNN, Mr. WELLER, Mr. MATSUI, and Mr. SHAW) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Revenue Act of 1987 to provide a permanent extension of the transition rule for certain publicly traded partnerships.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. PERMANENT EXTENSION OF TRANSITION RULE FOR CERTAIN PUBLICLY TRADED PARTNERSHIPS.

    (a) IN GENERAL- Paragraph (1) of section 10211(c) of the Revenue Act of 1987 (Public Law 100-203) is amended to read as follows:

      ‘(1) IN GENERAL- The amendments made by this section shall apply to taxable years beginning after December 31, 1987, except that such amendments shall not apply to any existing partnership.’

    (b) EFFECTIVE DATE- The amendment made by this section shall take effect as if included in the provisions of section 10211 of the Revenue Act of 1987.