H.R.10155 - A bill to amend the Internal Revenue Code of 1954 with respect to the exempt function income of a political organization.94th Congress (1975-1976)
|Sponsor:||Rep. Vander Veen, Richard F. [D-MI-5] (Introduced 10/09/1975)|
|Committees:||House - Ways and Means|
|Committee Reports:||H.Rept 94-1355|
|Latest Action:||House - 08/24/1976 Measure failed of passage in House under suspension of the rules, roll call #648 (134-261). (All Actions)|
|Roll Call Votes:||There has been 1 roll call vote|
This bill has the status Failed House
Here are the steps for Status of Legislation:
- Failed House
Summary: H.R.10155 — 94th Congress (1975-1976)All Information (Except Text)
(Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1355)
Reported to House with amendment(s) (07/21/1976)
Amends the Internal Revenue Code to provide that income received by a political organization from qualified games which are regularly carried on is not taxable if (1) substantially all the work in carrying on the trade or business is performed for the political organization without compensation; (2) the activity is not ordinarily conducted on a commercial basis; and (3) the conduct of the activity does not violate any State or local law.
Defines the term qualified game for the purposes of this Act.