The Nelson tax reform bill, now in the hands of the Senate Finance Committee, contains a provision that may affect bequests made by Americans to in situations abroad, including those in Israel, it was learned today.
When the Jewish Telegraphic Agency made inquiries about the measure, Senate committee staff members observed that England, France and Israel are among the countries ranking high among those whose institutions receive such bequests. The Nelson Bill, introduced by Sen. Gaylord Nelson (D. Wise). has among its 50 provisions one that says a bequest by an American “shall be deductible (for income tax purposes) only if it is to be used predominantly within the United States or any of its possessions.” The word “predominantly” in the bill’s context has not been precisely defined, the JTA was told.
No hearings have been scheduled for any section of the measure and it is considered unlikely that it will be discussed on the Senate floor at this session. The JTA was informed, moreover, that if the bill should pass the Senate it is virtually certain to be rejected by the House. The Nelson bill is co-sponsored by 11 Democrats. They are Sens. Hart; Kennedy; Eagleton; Tunney; McGovern; Mondale; Church; Harris; Hughes; Humphrey; and Metcalf.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
