Settlement Trust Improvement Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Jul 27, 2017)
Settlement Trust Improvement Act of 2017
This bill amends the Internal Revenue Code, with respect to the tax treatment of Alaska Native Settlement Trusts, to: (1) allow an Alaska Native Corporation to assign certain payments referenced in the Alaska Native Claims Settlement Act to a trust without including the payments in the gross income of the corporation, (2) allow the corporation to elect annually to deduct contributions made to a trust, (3) allow a trust to elect to defer the recognition of gains related to contributions of property other than cash until the sale or exchange of the property, and (4) establish information reporting requirements for deductible contributions to a trust.
What just happenedAug 14, 2017
Referred to the Subcommittee on Indian, Insular and Alaska Native Affairs.
Who’s behind it
- Introduced in HouseJul 27, 2017
- Aug 14, 2017Committee
Referred to the Subcommittee on Indian, Insular and Alaska Native Affairs.
Indian and Insular Affairs Subcommittee - Jul 27, 2017IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Natural Resources Committee - Jul 27, 2017IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Ways and Means Committee - Jul 27, 2017IntroReferralIntro-H
Introduced in House
- Jul 27, 2017IntroReferral1000
Introduced in House