Description: TO PASS H. R. 3577, A BILL TO PROVIDE AN EXTENSION OF THE INTEREST EQUALIZATION TAX.
Bill summary: Interest Equalization Tax Extension Act - Extends the application of the interest equalization tax until June 30, 1974.
Provides an exemption from the U.S. estate tax imposed on nonresident alien individuals for debt obligations issued by a domestic company or partnership under the interest equalization tax election procedure.
Eliminates from the exclusion of the interest equalization tax those acquisitions by a U.S. person of stock or debt obligations of a less developed country shipping
corporation issued on or after January 30, 1973. obligor with the requirements of this Act.
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Bill titles: A bill to provide an extension of the interest equalization tax, and for other purposes.
Original source documents: Digest of the Congressional Record vol. 119-30, p. H1155;
Links for more info on the vote: congress.gov