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  <bill>
    <number>3420</number>
    <updateDate>2023-01-11T20:37:21Z</updateDate>
    <updateDateIncludingText>2023-01-11T20:37:21Z</updateDateIncludingText>
    <originChamber>House</originChamber>
    <originChamberCode>H</originChamberCode>
    <type>HR</type>
    <introducedDate>2007-08-03</introducedDate>
    <congress>110</congress>
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        <name>Ways and Means Committee</name>
        <chamber>House</chamber>
        <type>Standing</type>
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            <name>Referred to</name>
            <date>2007-08-03T13:03:50Z</date>
          </item>
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    <actions>
      <item>
        <actionDate>2007-08-03</actionDate>
        <text>Referred to the House Committee on Ways and Means.</text>
        <type>IntroReferral</type>
        <actionCode>H11100</actionCode>
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            <name>Ways and Means Committee</name>
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        <actionDate>2007-08-03</actionDate>
        <text>Introduced in House</text>
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          <name>Library of Congress</name>
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      <item>
        <actionDate>2007-08-03</actionDate>
        <text>Introduced in House</text>
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          <code>9</code>
          <name>Library of Congress</name>
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    <sponsors>
      <item>
        <bioguideId>L000397</bioguideId>
        <fullName>Rep. Lofgren, Zoe [D-CA-16]</fullName>
        <firstName>ZOE</firstName>
        <lastName>LOFGREN</lastName>
        <party>D</party>
        <state>CA</state>
        <district>16</district>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <policyArea>
      <name>Taxation</name>
    </policyArea>
    <subjects>
      <legislativeSubjects>
        <item>
          <name>Bank accounts</name>
        </item>
        <item>
          <name>Capital gains tax</name>
        </item>
        <item>
          <name>Credit unions</name>
        </item>
        <item>
          <name>Deposit insurance</name>
        </item>
        <item>
          <name>Finance and Financial Sector</name>
        </item>
        <item>
          <name>Income tax</name>
        </item>
        <item>
          <name>Land transfers</name>
        </item>
        <item>
          <name>Public Lands and Natural Resources</name>
        </item>
        <item>
          <name>Tax exemption</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2007-08-03</actionDate>
        <actionDesc>Introduced in House</actionDesc>
        <updateDate>2007-09-24T20:40:46Z</updateDate>
        <text><![CDATA[ <p>1031 Regulation Act of 2007 - Amends the Internal Revenue Code to require the use of a federally insured depository institution or credit union to hold cash to be used in a tax-free exchange of properties to acquire like-kind property.</p>]]></text>
      </summary>
    </summaries>
    <title>1031 Regulation Act of 2007</title>
    <titles>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>To amend the Internal Revenue Code of 1986 to require the use of Federally insured intermediaries for nonrecognition treatment on like-kind exchanges involving cash to be used to acquire the replacement property.</title>
        <billTextVersionName>Introduced in House</billTextVersionName>
        <billTextVersionCode>IH</billTextVersionCode>
      </item>
      <item>
        <titleType>Display Title</titleType>
        <title>1031 Regulation Act of 2007</title>
      </item>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>1031 Regulation Act of 2007</title>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in House</type>
        <date>2007-08-03T04:00:00Z</date>
        <formats>
          <item>
            <url>https://www.govinfo.gov/content/pkg/BILLS-110hr3420ih/xml/BILLS-110hr3420ih.xml</url>
          </item>
        </formats>
      </item>
    </textVersions>
    <latestAction>
      <actionDate>2007-08-03</actionDate>
      <text>Referred to the House Committee on Ways and Means.</text>
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  </bill>
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    <dc:language>EN</dc:language>
    <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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