Thursday, December 20, 2018
A last-minute Christmas gift: Joint Committee on Taxation, General Explanation Of Public Law 115-97 (JCS-1-18) (Dec. 20, 2018) (457 pages):
This document, prepared by the staff of the Joint Committee on Taxation in consultation with the staffs of the House Committee on Ways and Means, the Senate Committee on Finance, and the Treasury Department’s Office of Tax Policy, provides an explanation of Public Law No. 115–97 (also referred to as the ‘‘Act’’ throughout). The explanation of the provisions follows the order of the Act.
For each provision, the document includes a description of prior law, an explanation of the provision, and the effective date. The prior law section describes the law in effect immediately prior to enactment and does not reflect changes to the law made by the provision or by subsequent legislation. For contemporaneous legislative history related to the Act, please see the relevant House Ways and Means Committee report, the reconciliation recommendations submitted by the Senate Budget Committee, and the Conference Report. This document includes citations to some, but not necessarily all, regulations and other administrative guidance issued as of the time of publication of the document. These citations are included strictly as reference tools for readers.