legislation: 101-hr-5454
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| 101-hr-5454 | 101 | hr | 5454 | Technical Corrections Act of 1990 | Taxation | 1990-08-03 | 1990-11-05 | See H.R.5835. | House | Rep. Rostenkowski, Dan [D-IL-8] | IL | D | R000458 | 1 | Technical Corrections Act of 1990 - Amends the Internal Revenue Code to make technical amendments related to the Revenue Reconciliation Act of 1989 concerning: (1) the extension and modification of the low-income housing credit; (2) the extension and modification of the credit for increasing research activities; (3) the interest deduction treatment of certain high yield original issue discount obligations; (4) the limitation on the deduction for certain interest paid to a related person; (5) limitations on refunds due to net operating loss carrybacks or excess interest allocable to corporate equity reduction transactions; (6) limitations on partial exclusion of interest on loans used to acquire employer securities; (7) the taxable year of certain foreign corporations; (8) special rules for exchanges of property between related persons; (9) exceptions from the arbitrage rebate requirement; (10) nondiscrimination requirements of the taxability of beneficiaries under annuities purchased by tax-exempt organizations or public schools; and (11) disallowance of the marital deduction where the surviving spouse is not a U.S. citizen. Makes amendments to the Internal Revenue Code related to the Technical and Miscellaneous Revenue Act of 1988 concerning: (1) corporate installment obligations; (2) application of uniform cost capitalization rules to certain farmers; (3) treaty-based return positions; (4) alternative minimum tax treatment of unearned income of minor children; (5) estate and gift taxes generally; (6) disallowance of the marital deduction where the spouse is not a U.S. citizen; (7) exclusion from gross income for income for U.S. savings bonds used to pay tuition and fees; and (8) distributions by cooperative housing corporations. Makes miscellaneous amendments concerning: (1) sales to comply with conflict-of-interest requirements; (2) the generation-skipping transfer tax; (3) treatment of certain partnership interests; and (4) treatment of certain separated employees. | 2025-08-26T17:27:14Z |