Bill Type
Congress Name
Long Title
AN ACT IMPOSING A LAND CONVERSION TAX, AMENDING FOR THE PURPOSE THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
Date filed
October 20, 1998
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. HB04838 |
| FULL TITLE : AN ACT IMPOSING A LAND CONVERSION TAX, AMENDING FOR THE PURPOSE THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED |
| ABSTRACT : Imposes a 15% [10%] tax on all agricultural lands converted for residential purposes, and 30% [25%] tax on all agricultural lands converted for commercial industrial and other nonagricultural purposes. |
| PRINCIPAL AUTHOR/S : BRAGANZA, HERNANI A. |
| DATE FILED : 1998-10-20 |
| SIGNIFICANCE: NATIONAL |
| ADMINISTRATION BILL? No |
| URGENT BILL? No |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 1998-10-23 |
Abstract
Imposes a 15% [10%] tax on all agricultural lands converted for residential purposes, and 30% [25%] tax on all agricultural lands converted for commercial industrial and other nonagricultural purposes.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.