To amend the Internal Revenue Code of 1986 to limit the recognition of gain under section 355(e) of such Code to certain leveraged spin-merger transactions.
Last action on Nov 1, 2005Referred to the House Committee on Ways and Means.
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Summary
Amends the Internal Revenue Code to revise rules relating to the recognition of gain from distributions by corporations of stocks or securities in connection with certain leveraged transactions.
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