Taxation of Preferred Stock of Banks While Owned by Reconstruction Finance Corporation: Hearings Before ... , 74-2 on H.R. 11047, (S. 3978) ... , February 12, 1936
1936 - 20 lappuses
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ALLEY already approved assessment attorneys bank pays bill bonds Brown of Michigan capital Chairman collect committee common common-stock holders concur Congress consent constitutional contract course cover Cross CROWLEY debentures decision difference disbursements District dividends dollars entirely exempt fact Federal Government feel FORD future gentlemen GIFFORD go back GOLDSBOROUGH gone granted HANCOCK held hereafter imposed heretofore HOLLISTER individuals instance interest JONES language levied loan localities lose lower Maryland Massachusetts matter ment merely National Government needed nontaxable objection opinion paid pass past percent possible preferred stock present privilege probably profit question raise reason Reconstruction Finance Corporation reduced retroactive seems sell Senate shares Sisson situation sold stand statement statute stockholders Supreme Court taxation taxing authorities taxing period thing understand United vested right WILLIAMS withdrawn
2. lappuse - Act shall be construed to authorize a reduction in the rate of interest on such loans by the Reconstruction Finance Corporation retroactive' from the date of enactment of this Act. Sec. 3. If any provision, word, or phrase of this Act, or the application thereof to any condition or circumstance, is held invalid, the remainder of the Act, and the application of this Act to other conditions or circumstances, shall not be affected thereby.
2. lappuse - Senate and House of Representatives of the United States of America in Congress assembled, That section 304 of the Act entitled "An Act to provide relief in the existing national emergency in banking and for other purposes", approved March 9, 1933, as amended, be further amended by adding at the end thereof the following: "Notwithstanding any other provision of law or any privilege or consent to tax expressly or impliedly granted thereby, the shares of preferred stock of national banking associations,...
2. lappuse - Finance Corporation and reaffirming their immunity Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 304 of the Act entitled "An Act to provide relief in the existing national emergency in banking, and for other purposes", approved March 9, 1933, as amended, be further amended by adding at...