To amend the Internal Revenue Code of 1986 to revise the tax treatment of derivative transactions entered into by a corporation with respect to its stock.
Last action on Oct 11, 2002Sponsor introductory remarks on measure. (CR E1829)
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Summary
Amends the Internal Revenue Code to revise the tax treatment of derivative transactions entered into by a corporation with respect to its stock.
Provides for nonrecognition of derivative gain, loss, or deduction items (as defined by this Act). Excepts certain forward contracts from such treatment.
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