[Congressional Bills 103th Congress] [From the U.S. Government Publishing Office] [H.R. 668 Introduced in House (IH)] 103d CONGRESS 1st Session H. R. 668 To amend the Internal Revenue Code of 1986 to remove the limitation on the deductibility of capital losses. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 27, 1993 Mr. Dornan of California 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 remove the limitation on the deductibility of capital losses. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) the following provisions of the Internal Revenue Code of 1986 are hereby repealed: (1) Section 165(f). (2) Section 172(d)(2). (3) Part II of subchapter P of chapter 1. (b) The table of parts for subchapter P of chapter 1 of such Code is amended by striking the item relating to part II. (c)(1) The amendments made by this section shall apply to taxable years beginning after December 31, 1993. (2) Any amount which (but for the repeal made by subsection (a)(1)) would have been treated as a capital loss under section 1212 of such Code for the taxpayer's first taxable year beginning after December 31, 1993, shall, notwithstanding such repeal, be so treated. <all>