US Congress House Bill 3524 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on July 27 2017 - 25% progression, died in committee
Action: 2017-08-14 - Referred to the Subcommittee on Indian, Insular and Alaska Native Affairs.
Pending: House Subcommittee on Indian, Insular and Alaska Native Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Settlement Trust Improvement Act of 2017 This bill amends the Internal Revenue Code, with respect to the tax treatment of Alaska Native Settlement Trusts, to: (1) allow an Alaska Native Corporation to assign certain payments referenced in the Alaska Native Claims Settlement Act to a trust without including the payments in the gross income of the corporation, (2) allow the corporation to elect annually to deduct contributions made to a trust, (3) allow a trust to elect to defer the recognition of gains related to contributions of property other than cash until the sale or exchange of the property, and (4) establish information reporting requirements for deductible contributions to a trust.

Settlement Trust Improvement Act of 2017

Rep. Don Young [R-AK]

Rep. David Loebsack [D-IA]

Date	Chamber	Action
2017-08-14	House	Referred to the Subcommittee on Indian, Insular and Alaska Native Affairs.
2017-07-27	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-07-27	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Natural Resources, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2017-07-27	House	Introduced in House

SB1698 (Same As) 2017-08-01 - Read twice and referred to the Committee on Finance.
SB1 (Related) 2017-11-28 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 269.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/3524/all-info
Text	https://www.congress.gov/115/bills/hr3524/BILLS-115hr3524ih.pdf