Publisher's Synopsis
Excerpt from Description of Revenue Provisions of H. R. 1930 and Background Relating to Proposed Transfer of Conrail to Norfolk Southern Corporation: Scheduled for a Hearing Before the Committee on Ways and Means on May 1, 1985
The Committee on Ways and Means has scheduled a hearing on May 1, 1985, on hr. 1930 (introduced by Chairman Rostenkowski and Mr. Duncan), relating to Federal income tax aspects of the sale of the Federal Government's interest in 85 percent of the common stock of the Consolidated Rail Corporation to Norfolk Southern Corporation and related transactions. Title I (tax provi sions) of the bill (sale of Conrail Tax Provisions Act of was referred to the Committee on Ways and Means; title II (nontax pro visions) of the bill (sale of Conrail Act of was referred to the Committee on Energy and Commerce. This pamphlet,1 pre pared in connection with the hearing, provides information relative to the proposed sale and a description of the tax provisions of hr. 1930.
The first part of the pamphlet sets forth the factual background. The second part generally discusses present law rules; Part three contains a detailed description of title I of the bill.
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