US Congress Senate Bill 1654 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Democrat 7-3-1)
Status: Introduced on November 5 2013 - 25% progression, died in committee
Action: 2013-11-05 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Government Settlement Transparency and Reform Act - Amends the Internal Revenue Code to expand provisions relating to the nondeductibility of fines and penalties, to prohibit a tax deduction for any amount paid or incurred to any governmental entity relating to the violation of any law or the investigation or inquiry into a potential violation of law. Exempts from such prohibition: (1) restitution or amounts paid to come into compliance with any law that was violated or otherwise involved in the investigation or inquiry, (2) amounts paid pursuant to a court order in a suit in which the governmental entity was not a party, and (3) amounts paid or incurred as taxes due. Imposes new reporting requirements on governmental entities relating to amounts paid as fines or for restitution.

Government Settlement Transparency and Reform Act

Sen. Jack Reed [D-RI]	Sen. Tammy Baldwin [D-WI]	Sen. Chuck Grassley [R-IA]	Sen. Patrick Leahy [D-VT]
Sen. John McCain [R-AZ]	Sen. Lisa Murkowski [R-AK]	Sen. Bill Nelson [D-FL]	Sen. Bernard Sanders [I-VT]
Sen. Jeanne Shaheen [D-NH]	Sen. Jon Tester [D-MT]	Sen. Elizabeth Warren [D-MA]

Date	Chamber	Action
2013-11-05	Senate	Read twice and referred to the Committee on Finance.
2013-11-05	Senate	Sponsor introductory remarks on measure. (CR S7831)

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/1654/all-info
Text	https://www.congress.gov/113/bills/s1654/BILLS-113s1654is.pdf