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To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax.
Other Bill Titles (1 more) 9/7/2007--Introduced.
Amends Internal Revenue Code provisions relating to the tax on the unrelated business income of tax-exempt organizations to exempt from treatment as acquisition indebtedness (subject to the unrelated business income tax) indebtedness incurred or continued by a lim... moreSee Full Bill Text
Committees
Amendments
This bill has no amendments.
Bill Status
| Introduced |  | Voted on by House | | Voted on by Senate | | Considered By President | | Bill Becomes Law |
| September 07, 2007 |
In the News
September 27, 2007 Senate Scrutiny for Endowments
... but a House bill now making the rounds, HR 3501, would have the effect of allowing universities and other entities to forgo the complex legal maneuvers ...
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Blog Coverage
February 11, 2008 House Bill Would Mandate Study of Tax Treatment of Hedge Funds A ...
Levin, HR 3501 would fix a problem that unfairly forces pension funds, universities and foundations to make certain investments.Under current law, tax exempt entities that invest in hedge funds are subject to unrelated business income ...
February 11, 2008 House Bill Would Mandate Study of Tax Treatment of Hedge Funds A â¦
Sander Levin would allow tax-exempt entities such as pension funds to invest directly in US-based hedge funds rather than routing their investments offshore. According to Rep. Levin, HR 3501 would fix a problem that unfairly forces ⦠...
Source: Investments Blog
September 25, 2007 tax help international tax issues jct-doc, jcx- 85-07, joint ...
tax help international tax issues jct-doc, jcx- 85-07, joint committee on taxation present law and analysis relating to selected international tax issues, , (september 25, 2007)joint committee on taxation present law and analysis ...
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