New legislation introduced in House titled “To amend the Internal Revenue Code of 1986 to restrict the immediate sale of seized property by the Secretary of the Treasury to perishable goods.”

New bill introduced: To amend the Internal Revenue Code of 1986 to restrict the immediate sale of seized property by the Secretary of the Treasury to perishable goods.

Republican Representative A. Drew Ferguson from the state of GA, along with just one cosponsor, introduced bill H.R.5446 on Apr 10, 2018. The bill is mainly related to these subjects Taxation.

Here is a short summary of the bill:
“This bill amends the Internal Revenue Code to limit the authority of the Internal Revenue Service (IRS) to immediately sell certain seized property to perishable goods. (Under current law, the IRS may sell the property after it has been appraised and the owner has been given the opportunity to pay the appraised value or furnish a bond for payment. The authority currently applies to property that is liable to perish, is liable to become greatly reduced in price, or cannot be kept without grea…”

So far none of the bill’s cosponsors has withdrawn their support.

A. Drew Ferguson Short bio

A. Drew Ferguson was born on a 1967.

Picture of Rep. A. Drew Ferguson (R)
Rep. A. Drew Ferguson (R)