Summary: H.R.3106 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for H.R.3106. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/20/1979)

Amends the Internal Revenue Code to subject nonresident aliens and foreign corporations to a tax on the gain from the sale or exchange of farm or rural lands situated in the United States.

Requires foreign corporations which hold United States farm lands comprising 20 percent of their assets to make reports on such holdings as the Secretary of the Treasury may require.