US Congress Senate Bill 1698 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on August 1 2017 - 25% progression, died in committee
Action: 2017-08-01 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance 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

Sen. Lisa Murkowski [R-AK]

Sen. Dan Sullivan [R-AK]

Date	Chamber	Action
2017-08-01	Senate	Read twice and referred to the Committee on Finance.

HB3524 (Same As) 2017-08-14 - Referred to the Subcommittee on Indian, Insular and Alaska Native Affairs.
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/senate-bill/1698/all-info
Text	https://www.congress.gov/115/bills/s1698/BILLS-115s1698is.pdf