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S.Amdt. 2658Senate109th Congress (2005-2007)

To provide valuation of employee personal use of noncommercial aircraft.

What it does: Adds SECTION 1. VALUATION OF EMPLOYEE PERSONAL USE OF NONCOMMERCIAL AIRCRAFT at the end of the bill
Sponsored by Mark DaytonSen. Mark Dayton (D-MN)
Submitted November 17, 2005

What it changes

1 change to S. 2020 · shown in the bill's text

Adds a section
Proposed · Nov 18, 2005Submitted · Nov 17, 2005

The Congressional Record cuts off the end of this amendment, so some changes may be missing.

  1. Adds SECTION 1. VALUATION OF EMPLOYEE PERSONAL USE OF NONCOMMERCIAL AIRCRAFT at the end of the bill

    Adds a section

    In S. 2020 · Placed on Calendar Senate

    (1) by striking "The Secretary" and inserting the

    Inserted: SECTION 1. VALUATION OF EMPLOYEE PERSONAL USE OF NONCOMMERCIAL AIRCRAFT.

    Inserted: (a) In General.--For purposes of Federal income tax inclusion, the value of any employee personal use of noncommercial aircraft shall equal the excess (if any) of--

    Inserted: (1) greater of--

    Inserted: (A) the fair market value of such use, or

    Inserted: (B) the actual cost of such use (including all fixed and variable costs), over

    Inserted: (2) any amount paid by or on behalf of such employee for such use.

    Inserted: (b) Effective Date.--Subsection (a) shall apply to * * *

    Original wording

    At the end of the bill add the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed

SA 2658. Mr. DAYTON submitted an amendment intended to be proposed by him to the bill S. 2020, to provide for reconciliation pursuant to section 202(b) of the concurrent resolution on the budget for fiscal year 2006; as follows:

At the end of the bill add the following:

SECTION 1. VALUATION OF EMPLOYEE PERSONAL USE OF NONCOMMERCIAL AIRCRAFT.

(a) In General.--For purposes of Federal income tax inclusion, the value of any employee personal use of noncommercial aircraft shall equal the excess (if any) of--

(1) greater of--

(A) the fair market value of such use, or

(B) the actual cost of such use (including all fixed and variable costs), over

(2) any amount paid by or on behalf of such employee for such use.

(b) Effective Date.--Subsection (a) shall apply to * * *

Congressional RecordPDF

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Senate amendment submitted

November 17, 2005

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Floor

Senate amendment submitted

November 17, 2005

Floor

Senate amendment proposed (on the floor): Amendment SA 2658 proposed by Senator Dayton.(consideration: CR S13134; text: CR S13134)

November 17, 2005

Floor

Senate amendment agreed to: Amendment SA 2658 agreed to in Senate by Unanimous Consent.

November 17, 2005

Floor

Amendment SA 2658 proposed by Senator Dayton. (consideration: CR S13134; text: CR S13134) To provide valuation of employee personal use of noncommercial aircraft.

November 17, 2005

Floor

Amendment SA 2658 agreed to in Senate by Unanimous Consent.

November 17, 2005