Summary: H.R.3653 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.3653. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (10/29/1991)

Amends the Internal Revenue Code with respect to the tax exclusion for certain fringe benefits to provide that "no-additional-cost service" includes the value of transportation on a noncommercial aircraft if: (1) such transportation is provided on a flight made in the ordinary course of the trade or business of the taxpayer owning or leasing such aircraft for use in such trade or business; (2) the flight on which the transportation is provided would have been made whether or not such person was transported on the flight; and (3) no substantial additional cost is incurred in providing such transportation to such person.