S. 551
Capital Construction Fund Penalty Relief Act
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1788-1789)
Sponsor
Sen. Wyden, Ron [D-OR]
Bill Details
- Update Date
- Nov 15, 2022
- Origin Chamber
- Senate
- Bill Type
- S
- Bill Number
- 551
- Congress
- 113
- Introduced Date
- Mar 13, 2013
- Policy Area
- Transportation and Public Works
- Is Law
- No
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1788-1789)
Source: Senate
Sponsor introductory remarks on measure. (CR S1787-1788)
Source: Library of Congress
Introduced in Senate
Source: Library of Congress
Capital Construction Fund Penalty Relief Act - Permits any person who entered into a capital construction fund agreement (an agreement to provide replacement vessels, additional vessels, or reconstructed vessels) with respect to certain vessels operated in the fisheries of the United States to make an election to terminate the capital construction fund established under such agreement.
Amends the Internal Revenue Code to prescribe requirements regarding the effect of such an election, including the distribution and taxation of such funds, on individuals and entities.
Finance Committee
Introduced in Senate
Mar 13, 2013