An Act to revise miscellaneous timing requirements of the revenue laws, and for other purposes.
Public Law 95-628 · H.R. 7320 · 95th Congress · began in the House
Signed by Jimmy Carter (D) on Nov 10, 1978 · Taxation
Sponsor: Rep. Albert Ullman (D-OR-2)
Cosponsors (1): Rep. Joseph Waggonner
Passage votes
- HouseMethod not stated
- SenateMethod not stated
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
(House agreed to Senate amendments with amendments)
Amends the Internal Revenue Code to revise the time period for payments of certain expenses to related taxpayers who qualify for deductions.
Provides that the adjusted basis of property distributed by a corporation shall include all recognized gains of the distributor. Extends the time periods for making Subchapter S elections and for exchanging property in corporate liquidations with nonrecognized gains and losses in the case of involuntary conversions. Provides for the perfection of a Subchapter S election which was not timely filed, under certain circumstances.
Provides that the filing deadline for income tax returns by certain tax exempt organizations shall be the 15th of the fifth month after the taxable year. Expands the class of taxpayers qualifying as farmers or fishermen with respect to declarations of estimated tax. Shortens the period of limitations for carrybacks of the investment credit while applying the same period of limitations to carrybacks of the work incentive program and new employee credits.
Amends the Tariff Schedules of the United States to permit the duty-free importation of boric acid, mineral wool, or glass fibers until June 30, 1979.
Allows a gift and estate tax deduction to nonresident aliens for contributions to the Foundation Josee et Rene de Chambrun, a French charity created to preserve the home of General LaFayette.
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 18 actions.
- Nov 10, 1978Became lawBecame law · Signed by President.
- PresidentPresident · Public Law 95-628.
- Oct 31, 1978PresidentPresident · Measure presented to President.
- Oct 15, 1978PresidentPresident · Measure enrolled in Senate.
- PresidentPresident · Measure enrolled in House.
- Oct 14, 1978Resolving differencesResolving differences · Senate receded from certain amendment.
- Resolving differencesResolving differences · Senate agreed to House amendments.
- Oct 10, 1978Resolving differencesResolving differences · House disagreed to certain Senate amendment.
- Resolving differencesResolving differences · House agreed to Senate amendments with amendments.
- Resolving differencesResolving differences · House agreed to certain Senate amendments.
- Sep 29, 1978CommitteeCommittee · Reported by House Ways and Means Committee
- Aug 23, 1978FloorFloor · Measure passed Senate, amended.
- May 10, 1978CommitteeCommittee · Reported by Senate Finance Committee
- Nov 3, 1977CommitteeCommittee · Referred to Senate Finance Committee
- Nov 1, 1977FloorFloor · Measure passed House, amended.
- FloorFloor · Measure called up under motion to suspend rules and pass in House.
- May 19, 1977CommitteeCommittee · Referred to House Ways and Means Committee
- IntroducedIntroduced · Introduced in the House
Data notes
Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.
Official record
The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.