To amend the Internal Revenue Code of 1986 to provide that the graduated corporate tax rates shall apply in determining the tax imposed on certain campaign committees.

Amends the Internal Revenue Code to provide that graduated corporate tax rates apply in determining the tax imposed on the principal campaign committee of a candidate for Federal, State, or local elective office. (Currently, such tax is only imposed on such committees of candidates for congressional offices.)

 
HR 6024 IH
102d CONGRESS
2d Session
 H. R. 6024
To amend the Internal Revenue Code of 1986 to provide that the graduated
corporate tax rates shall apply in determining the tax imposed on certain
campaign committees.
IN THE HOUSE OF REPRESENTATIVES
September 24, 1992
Mr. LIVINGSTON introduced the following bill; which was referred to the
Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to provide that the graduated
corporate tax rates shall apply in determining the tax imposed on certain
campaign committees.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled, That (a) subparagraph (A) of
  section 527(h)(2) of the Internal Revenue Code of 1986 (defining principal
  campaign committee) is amended to read as follows:
  `(A) IN GENERAL- For purposes of this subsection, the term `principal
  campaign committee' means the political committee designated by a candidate
  for Federal, State, or local elective office as his principal campaign
  committee for purposes of this subsection.'
  (b) Subparagraph (B) of section 527(h)(2) of such Code is amended--
  (1) by striking `subparagraph (A)(ii)' and inserting `subparagraph (A)', and
  (2) by striking the last sentence.
  (c) The amendments made by this section shall apply to taxable years
  beginning after December 31, 1992.