S.Amdt. 1870
What it does: Adds TITLE _--OTHER PROVISIONS at the end of the bill
Sen. Benjamin L. Cardin (D-MD)What it changes
1 change to H.R. 3606 · shown in the bill's text
Adds TITLE _--OTHER PROVISIONS at the end of the bill
Adds a titleIn H.R. 3606 · Placed on Calendar Senate
Passed the House of Representatives March 8, 2012.
Inserted: TITLE _--OTHER PROVISIONS
Inserted: SEC. _01. EXTENSION OF REDUCTION IN RECOGNITION PERIOD FOR BUILT-IN GAINS TAX.
Inserted: (a) In General.--Clause (ii) of section 1374(d)(7)(B) of the Internal Revenue Code of 1986 is amended by inserting "2012, or 2013," after "2011,".
Inserted: (b) Technical Amendment.--Subparagraph (B) of section 1374(d)(7) of such Code is amended by striking "The preceding sentence" and inserting the following: "For purposes of applying this subparagraph to an installment sale, each portion of such installment sale shall be treated as a sale occurring in the taxable year in which the first portion of such installment sale occurred. This subparagraph".
Inserted: (c) Effective Dates.--
Inserted: (1) In general.--The amendment made by this subsection (a) shall apply to taxable years beginning after December 31, 2011.
Inserted: (2) Technical amendment.--The amendment made by subsection (b) shall apply to taxable years beginning after the date of the enactment of this Act.
Original wording
At the end, add the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 1870. Mr. CARDIN (for himself and Ms. Snowe) submitted an amendment intended to be proposed by him to the bill H.R. 3606, to increase American job creation and economic growth by improving access to the public capital markets for emerging growth companies; which was ordered to lie on the table; as follows:
At the end, add the following:
TITLE _--OTHER PROVISIONS
SEC. _01. EXTENSION OF REDUCTION IN RECOGNITION PERIOD FOR BUILT-IN GAINS TAX.
(a) In General.--Clause (ii) of section 1374(d)(7)(B) of the Internal Revenue Code of 1986 is amended by inserting “2012, or 2013,” after “2011,”.
(b) Technical Amendment.--Subparagraph (B) of section 1374(d)(7) of such Code is amended by striking “The preceding sentence” and inserting the following: “For purposes of applying this subparagraph to an installment sale, each portion of such installment sale shall be treated as a sale occurring in the taxable year in which the first portion of such installment sale occurred. This subparagraph”.
(c) Effective Dates.--
(1) In general.--The amendment made by this subsection (a) shall apply to taxable years beginning after December 31, 2011.
(2) Technical amendment.--The amendment made by subsection (b) shall apply to taxable years beginning after the date of the enactment of this Act.
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Senate amendment submitted
March 19, 2012