S.Amdt. 4370
What it does: Rewrites section 421(c)(2)
Sen. Arlen Specter (D-PA)What it changes
1 change to H.R. 4213 · shown in the bill's text
Rewrites section 421(c)(2)
ReplacesIn H.R. 4213 · Engrossed Amendment House
(2) Transition rule.--The amendments made by this section shall not apply to any exchange pursuant to a transaction which is--
(A) made pursuant to a written agreement which was binding on
[struck: March 15][inserted: May 28], 2010[struck: ,]and at all times thereafter;(B) described in a ruling request submitted to the Internal Revenue Service on or before such date; or
(C) described on or before such date in a public announcement or in a filing with the Securities and Exchange Commission.
Original wording
Strike section 421(c)(2) and insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 4370. Mr. SPECTER submitted an amendment intended to be proposed by him to the bill H.R. 4213, to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes; which was ordered to lie on the table; as follows:
Strike section 421(c)(2) and insert the following:
(2) Transition rule.--The amendments made by this section shall not apply to any exchange pursuant to a transaction which is--
(A) made pursuant to a written agreement which was binding on May 28, 2010 and at all times thereafter;
(B) described in a ruling request submitted to the Internal Revenue Service on or before such date; or
(C) described on or before such date in a public announcement or in a filing with the Securities and Exchange Commission.
Legislative Activity
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Senate amendment submitted
June 16, 2010