[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1686 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 1686

 To amend the Revenue Act of 1987 to provide a permanent extension of 
     the transition rule for certain publicly traded partnerships.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 23, 1995

  Mr. Houghton (for himself, Mr. Kleczka, Mr. Jacobs, Mr. Crane, Mrs. 
 Kennelly, Mr. Shaw, Mr. Herger, Mr. Bunning of Kentucky, Mr. McCrery, 
and Mr. Neal of Massachusetts) introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Revenue Act of 1987 to provide a permanent extension of 
     the transition rule for certain publicly traded partnerships.
    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PERMANENT EXTENSION OF TRANSITION RULE FOR CERTAIN PUBLICLY 
              TRADED PARTNERSHIPS.

    (a) In General.--Paragraph (1) of section 10211(c) of the Revenue 
Act of 1987 (Public Law 100-203) is amended to read as follows:
            ``(1) In general.--The amendments made by this section 
        shall apply to taxable years beginning after December 31, 1987, 
        except that such amendments shall not apply to any existing 
        partnership.''
    (b) Effective Date.--The amendment made by this section shall take 
effect as if included in the provisions of section 10211 of the Revenue 
Act of 1987.
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