[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 233 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 233

To amend the Internal Revenue Code of 1986 to remove the limitation on 
                  the deductibility of capital losses.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 4, 1995

  Mr. Dornan introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to remove the limitation on 
                  the deductibility of capital losses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That (a) the following 
provisions of the Internal Revenue Code of 1986 are hereby repealed:
            (1) Section 165(f).
            (2) Section 172(d)(2).
            (3) Part II of subchapter P of chapter 1.
    (b) The table of parts for subchapter P of chapter 1 of such Code 
is amended by striking the item relating to part II.
    (c)(1) The amendments made by this section shall apply to taxable 
years beginning after December 31, 1995.
    (2) Any amount which (but for the repeal made by subsection (a)(1)) 
would have been treated as a capital loss under section 1212 of such 
Code for the taxpayer's first taxable year beginning after December 31, 
1995, shall, notwithstanding such repeal, be so treated.
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