From: shubu@cs.wisc.edu (Shubhendu Mukherjee)
Newsgroups: soc.culture.indian
Subject: tax bill affecting RAs and Fellows
Date: 26 Sep 92 21:12:19 GMT
Distribution: usa
Organization: Univ. of Wisconsin @ Madison, CS Dept.



                           LEVEL 1 - 3 OF 8 REFERENCES

                   Copyright (c) 1992 Mead Data Central, Inc.

                              BILL TRACKING REPORT


                                 102nd Congress
                                  2nd Session

                         U. S. House of Representatives

                                   HR    4418

                                 1992 H.R. 4418

                    INTERNAL REVENUE CODE OF 1986, AMENDMENT

DATE-INTRO: March 10, 1992

LAST-ACTION-DATE: September 22, 1992

FINAL STATUS: Pending

                          BILL TRACKING REPORT HR 4418

SPONSOR: Representative Tom F. Lewis R-FL

TOTAL-COSPONSORS: 45 Cosponsors:  20 Democrats / 25 Republicans

SYNOPSIS: A bill to amend the Internal Revenue Code of 1986 to restore the
prior law exclusion for scholarships and fellowships.

ACTIONS: Committee Referrals:
03/10/92 House Ways and Means Committee

Legislative Chronology:

1st Session Activity:

2nd Session Activity:
03/10/92 138 Cong Rec H 1134  Referred to the House Ways and Means
                              Committee
04/07/92 138 Cong Rec H 2407  Cosponsors added
06/24/92 138 Cong Rec H 5183  Cosponsors added
07/21/92 138 Cong Rec H 6349  Cosponsors added
08/06/92 138 Cong Rec H 7726  Cosponsors added
09/10/92 138 Cong Rec H 8304  Cosponsors added
                          BILL TRACKING REPORT HR 4418

09/22/92 138 Cong Rec H 8966  Cosponsors added

BILL-DIGEST: (from the CONGRESSIONAL RESEARCH SERVICE)
Amends the Tax Reform Act of 1986 to repeal the provision taxing
scholarships and fellowships, and to exclude them from gross income,
beginning with the 1987 tax year. Waives the statute of limitations for
related refund or credit claims filed within one year of enactment of this
Act.

CRS Index Terms:

Income tax;  Scholarships; Tax  exclusion


CO-SPONSORS:

Added 04/07/92:

     Emerson R-MO          Crane R-IL            Tanner D-TN
     Towns D-NY            Sanders D-VT          Owens D-NY
     Cox R-CA              Costello D-IL         Hughes D-NJ
     Zeliff R-NH
                          BILL TRACKING REPORT HR 4418


Added 06/24/92:

     Frost D-TX            McMillen D-MD         Packard R-CA
     Horton R-NY

Added 07/21/92:

     Kolbe R-AZ            Taylor R-NC           Dornan R-CA
     Gingrich R-GA         Frank D-MA

Added 08/06/92:

     Hastert R-IL          Hayes D-IL            Evans D-IL
     Marlenee R-MT         Roe D-NJ              Lagomarsino R-CA
     Mineta D-CA           Moorhead R-CA         Barton R-TX
     Jefferson D-LA        Rinaldo R-NJ

Added 09/10/92:

     Clinger R-PA          Poshard D-IL          Rhodes R-AZ
     Spence R-SC           Atkins D-MA           Serrano D-NY
                          BILL TRACKING REPORT HR 4418

     Wolf R-VA             Baker R-LA            Shays R-CT
     Kildee D-MI           Lewis D-GA

Added 09/22/92:

     Wylie R-OH            Pastor D-AZ           Fawell R-IL
     Sensenbrenner R-WI

                           LEVEL 1 - 1 OF 7 DOCUMENTS

                               FULL TEXT OF BILLS

                          102ND CONGRESS; 2ND SESSION
                        IN THE HOUSE OF REPRESENTATIVES
                           AS INTRODUCED IN THE HOUSE

                                  H. R.  4418

                               1992 H.R.  4418;

 SYNOPSIS:
                                 A BILL
To amend the Internal Revenue Code of 1986 to restore the prior law
               exclusion for scholarships and fellowships.

DATE OF INTRODUCTION: MARCH 10, 1992

DATE OF VERSION: MARCH 12, 1992 -- VERSION: 1

 SPONSOR(S):
Mr. LEWIS of Florida introduced the following bill; which was referred to
                     the Committee on Ways and Means
                 1992 H.R. 4418;  MARCH 12, 1992 -- VERSION: 1



 TEXT:

                                  A BILL
To amend the Internal Revenue Code of 1986 to restore the prior law
               exclusion for scholarships and fellowships.

*  Be it enacted by the Senate and House of Representatives of the United*
*States of America in Congress assembled,                                *
SECTION 1. RESTORATION OF PRIOR LAW EXCLUSION FOR SCHOLARSHIPS AND
FELLOWSHIPS.
  (a) IN GENERAL.-SECTION 123 OF THE TAX REFORM ACT OF 1986 (RELATING TO
SCHOLARSHIPS), AND THE AMENDMENTS MADE BY SUCH SECTION, ARE HEREBY
REPEALED; AND THE INTERNAL REVENUE CODE OF 1986 SHALL BE APPLIED AND
ADMINISTERED AS IF SUCH SECTION, AND AMENDMENTS, HAD NEVER BEEN ENACTED.
  (B) EFFECTIVE DATE.-SUBSECTION (A) SHALL APPLY TO TAXABLE YEARS
BEGINNING AFTER DECEMBER 31, 1986.
SEC. 2. WAIVER OF STATUTE OF LIMITATIONS.
  If refund or credit of any overpayment of tax resulting from the
application of section 1 is prevented at any time before the close of the
1-year period beginning on the date of the enactment of this Act by the
operation of any law or rule of law (including res judicata), refund or
credit of such overpayment (to the extent attributable to the application
of section 1) may, nevertheless, be made or allowed if claim therefor is
filed before the close of such 1-year period.


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Shubhendu Sekhar Mukherjee       University of Wisconsin @ Madison, C.Sc.
Net:shubu@cs.{wisc,utexas}.edu   [W]:(608) 262-1012   [H]:(608) 255-6322
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