US HB3439 | 2009-2010 | 111th Congress
Status
Spectrum: Strong Partisan Bill (Democrat 17-1)
Status: Introduced on July 31 2009 - 25% progression, died in committee
Action: 2009-07-31 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 31 2009 - 25% progression, died in committee
Action: 2009-07-31 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Close the SILO/LILO Loophole Act of 2009 - Amends the Internal Revenue Code to: (1) impose a 100% excise tax on any income or benefits received from a SILO (sale-in/lease-out) or LILO (lease-in/lease-out) transaction involving a financial institution and a public entity; and (2) deny a tax deduction for attorney fees or other costs incurred by a party to a SILO or LILO transaction seeking to enforce the terms of such transaction.
Title
Close the SILO/LILO Loophole Act of 2009
Sponsors
Rep. Russ Carnahan [D-MO] | Rep. Lacy Clay [D-MO] | Rep. Gerald Connolly [D-VA] | Rep. Jerry Costello [D-IL] |
Rep. Danny Davis [D-IL] | Rep. Brad Ellsworth [D-IN] | Rep. Anna Eshoo [D-CA] | Rep. Baron Hill [D-IN] |
Rep. Michael Honda [D-CA] | Rep. Henry Johnson [D-GA] | Rep. John Lewis [D-GA] | Rep. Zoe Lofgren [D-CA] |
Rep. Doris Matsui [D-CA] | Rep. Jim McDermott [D-WA] | Rep. James Moran [D-VA] | Rep. Bill Pascrell [D-NJ] |
Rep. Mark Souder [R-IN] | Rep. Jackie Speier [D-CA] |
History
Date | Chamber | Action |
---|---|---|
2009-07-31 | Referred to the House Committee on Ways and Means. |
Same As/Similar To
SB1341 (Related) 2009-06-24 - Read twice and referred to the Committee on Finance.
Subjects
Banking and financial institutions regulation
Business investment and capital
Income tax deductions
Lawyers and legal services
Sales and excise taxes
Tax administration and collection, taxpayers
Taxation
Business investment and capital
Income tax deductions
Lawyers and legal services
Sales and excise taxes
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/111th-congress/house-bill/3439/all-info |
Text | https://www.congress.gov/111/bills/hr3439/BILLS-111hr3439ih.pdf |