S. 979 (97th): A bill to amend the Internal Revenue Code of 1954 to clarify the tax exemption for interest on obligations of volunteer fire departments.

Introduced:
Apr 09, 1981 (97th Congress, 1981–1982)
Status:
Died (Referred to Committee)
Sponsor
Richard Lugar
Senator from Indiana
Party
Republican
Related Bills
H.R. 484 (identical)

Referred to Committee
Last Action: Jan 05, 1981

 
Status

This bill was introduced on April 9, 1981, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 09, 1981
Referred to Committee Apr 09, 1981
 
Summary

No summaries available.

Cosponsors
2 cosponsors (2R) (show)
Committees

Senate Finance

Energy, Natural Resources, and Infrastructure

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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.


4/9/1981--Introduced.
Amends the Internal Revenue Code to provide that bonds issued by a volunteer fire department to finance the acquisition, construction, reconstruction, or improvement of firefighting property shall be treated as obligations of a local government and the interest on such bonds shall be excluded from gross income.
Provides that a volunteer fire department qualifies for such tax treatment of its bonds if it:
(1) is organized and operated to provide firefighting services in an area which does not have any other firefighting services;
(2) is required by a local government to furnish firefighting services;
(3) receives over half of its funding from local government; and
(4) makes no charge for its services.

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

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