Summary: H.R.5674 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.5674. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (07/23/1992)

Title I: Tax Treatment of Certain Cargo Containers - Amends the Internal Revenue Code to provide for the treatment of qualified intermodal cargo containers for purposes of the investment tax credit.

Title II: Other Provisions - Allows a small insurance company deduction of the tentative taxable income of certain companies involved with property or casualty insurance.

Allows penalty-free withdrawals from annuity contracts to pay qualified higher education expenses of the taxpayer, the taxpayer's spouse, or a child or grandchild of such taxpayer. Excludes premiums paid under designated higher education expense annuities from treatment under gift tax provisions.

Repeals the stock for debt exception in de minimis cases.