To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax.

3.0.0 3501 2023-01-11T20:31:01Z 2023-01-11T20:31:01Z House H HR 2007-09-07 110 hswm00 Ways and Means Committee House Standing Referred to 2007-09-07T13:03:35Z 2007-09-07 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2007-09-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-09-07 Introduced in House IntroReferral 1000 9 Library of Congress L000263 Rep. Levin, Sander M. [D-MI-12] SANDER LEVIN D MI M. 12 N M000404 Rep. McDermott, Jim [D-WA-7] JIM MCDERMOTT D WA 7 2007-09-07 True L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2007-09-07 True P000422 Rep. Pomeroy, Earl [D-ND-At Large] EARL POMEROY D ND 0 2007-09-07 True B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2007-09-07 True P000096 Rep. Pascrell, Bill, Jr. [D-NJ-8] WILLIAM PASCRELL D NJ J. 8 2007-09-07 True B001231 Rep. Berkley, Shelley [D-NV-1] SHELLEY BERKLEY D NV 1 2007-09-07 True V000128 Rep. Van Hollen, Chris [D-MD-8] Chris Van Hollen D MD 8 2007-09-07 True D000399 Rep. Doggett, Lloyd [D-TX-25] LLOYD DOGGETT D TX 25 2007-09-10 False E000287 Rep. Emanuel, Rahm [D-IL-5] Rahm Emanuel D IL 5 2007-09-18 False S000480 Rep. Slaughter, Louise McIntosh [D-NY-28] LOUISE SLAUGHTER D NY M. 28 2007-11-05 False Taxation Commerce Debt Finance and Financial Sector Futures trading Income tax Partnerships Securities Tax exemption Tax-exempt organizations Unrelated business income tax Taxation

00 2007-09-07 Introduced in House 2007-10-12T18:38:31Z Amends Internal Revenue Code provisions relating to the tax on the unrelated business income of tax-exempt organizations to exempt from treatment as acquisition indebtedness (subject to the unrelated business income tax) indebtedness incurred or continued by a limited partnership in a partnership to purchase or carry certain securities or commodities.

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To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax. Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax. Introduced in House IH Display Title To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax. Introduced in House 2007-09-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3501ih/xml/BILLS-110hr3501ih.xml 2007-09-07 Referred to the House Committee on Ways and Means. text/xml EN 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. Congressional Research Service, Library of Congress 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.