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        <title>To amend the Internal Revenue Code of 1986 to modify the active business definition under section 355.</title>
        <congress>109</congress>
        <number>2911</number>
        <type>HR</type>
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          <text>Referred to the House Committee on Ways and Means.</text>
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        <text>Read twice and referred to the Committee on Finance.</text>
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        <actionDate>2005-06-29</actionDate>
        <text>Sponsor introductory remarks on measure. (CR S7616)</text>
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        <fullName>Sen. Lott, Trent [R-MS]</fullName>
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        <fullName>Sen. Baucus, Max [D-MT]</fullName>
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        <state>MT</state>
        <middleName>SIEBEN</middleName>
        <sponsorshipDate>2005-06-29</sponsorshipDate>
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          <name>Affiliated corporations</name>
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          <name>Commerce</name>
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        <actionDate>2005-06-29</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2005-08-02T14:29:15Z</updateDate>
        <text><![CDATA[ <p>Amends the Internal Revenue Code to treat all members of a corporation's separate affiliated group as one corporation for purposes of determining whether such corporation and its subsidiaries meet the active business test required for corporations seeking nonrecognition of gain from the distribution of property in a reorganization.</p>]]></text>
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    <title>A bill to amend the Internal Revenue Code of 1986 to modify the active business definition under section 355.</title>
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        <title>A bill to amend the Internal Revenue Code of 1986 to modify the active business definition under section 355.</title>
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        <titleType>Official Title as Introduced</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to modify the active business definition under section 355.</title>
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        <date>2005-06-29T04:00:00Z</date>
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      <actionDate>2005-06-29</actionDate>
      <text>Read twice and referred to the Committee on Finance.</text>
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    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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