H.R.6195 - Income Averaging Restoration Act of 1992102nd Congress (1991-1992)
|Sponsor:||Rep. Carr, Bob [D-MI-6] (Introduced 10/06/1992)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 10/06/1992 Referred to the House Committee on Ways and Means. (All Actions)|
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Text: H.R.6195 — 102nd Congress (1991-1992)All Information (Except Text)
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Introduced in House
HR 6195 IH 102d CONGRESS 2d Session H. R. 6195 To amend the Internal Revenue Code of 1986 to restore income averaging and thereby provide economic stimulus to the agriculture industry. IN THE HOUSE OF REPRESENTATIVES October 6 (legislative day, OCTOBER 5), 1992 Mr. CARR introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to restore income averaging and thereby provide economic stimulus to the agriculture industry. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the `Income Averaging Restoration Act of 1992'. SEC. 2. RESTORATION OF INCOME AVERAGING. (a) IN GENERAL- Section 141 of the Tax Reform Act of 1986 (and the amendments made by such section) are hereby repealed, and the Internal Revenue Code of 1986 shall be applied and administered as if such section (and amendments) had not been enacted. (b) EFFECTIVE DATE- Subsection (a) shall apply to taxable years beginning after December 31, 1992.