[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 1699 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                S. 1699

    To amend the Internal Revenue Code of 1986 to provide that the 
 amortization deduction for goodwill and certain other intangibles be 
   determined by amortizing 75 percent of the adjusted basis of the 
               intangibles ratably over a 15-year period.


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                   IN THE SENATE OF THE UNITED STATES

            November 19 (legislative day, November 2), 1993

  Mr. Simon (for himself and Mr. Metzenbaum) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
    To amend the Internal Revenue Code of 1986 to provide that the 
 amortization deduction for goodwill and certain other intangibles be 
   determined by amortizing 75 percent of the adjusted basis of the 
               intangibles ratably over a 15-year period.

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

SECTION 1. LIMITATION ON AMORTIZATION DEDUCTION FOR GOODWILL AND 
              CERTAIN OTHER INTANGIBLES.

    (a) In General.--Section 197(a) of the Internal Revenue Code of 
1986 (relating to amortization of goodwill and certain other 
intangibles) is amended by inserting ``75 percent of'' before ``the 
adjusted basis''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect as if included in the amendments made by section 13261 of 
the Revenue Act of 1993.

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