Summary: S.1489 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for S.1489. Bill summaries are authored by CRS.

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Introduced in Senate (07/14/1987)

Amends the Internal Revenue Code to provide that the prohibition against indirect income tax deductions through pass-through entities shall not apply to any regulated investment company whose shares are: (1) continuously offered pursuant to a public offering; (2) regularly traded on an established securities market; or (3) held by or for at least 500 persons at all times during the taxable year.