Settlement Trust Improvement Act of 2017
Latest action · Aug 1, 2017 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedAug 1, 2017
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 1
Members who signed on, in the order they did. All signed on Aug 1, 2017.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-AK | Dan Sullivan | Original | Aug 1, 2017 |
Actions 2
Everything that happened, newest first.
- Aug 1, 2017Introduced in Senate
- Aug 1, 2017Read twice and referred to the Committee on Finance.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1 | An original bill to provide for reconciliation pursuant to title II of the concurrent resolution on the budget for fiscal year 2018. | Related bill | Nov 28, 2017 |
| HR 3524 | Settlement Trust Improvement Act of 2017 | Identical bill | Aug 14, 2017 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Aug 1, 2017Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.