Compiled October, 2013
Our review of the annotated history for Title 26, United States Code section 1031 reveals the following legislative history. Each public law (hereinafter referred to as Pub.L.) represents a separate congressional enactment or bill.
Added: 1954, Ch. 736, 68A Stat. 302 (August 16, 1954)
Amended:
• Pub.L. 85–866, title I, § 44, September 2, 1958, 72 Stat. 1641: in subdivision (d), inserted in first sentence a comma between “exchanged” and “decreased” and “or decreased in the amount of loss”, and substituted in second sentence “subsection” for “paragraph”.
• Pub.L. 86–346, title II, § 201(c)–(e), September 22, 1959, 73 Stat. 624: inserted references to section 1037(a) in subdivisions (b) and (c) and in first two sentences of subdivision (d).
• Pub.L. 91–172, title II, § 212(c)(1), December 30, 1969, 83 Stat. 571: added subdivision (e).
• Pub.L. 98–369, div. A, title I, § 77(a), July 18, 1984, 98 Stat. 595: in amending subdivision (a) generally, designated existing provisions as par. (1), substituted “No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment” for “No gain or loss shall be recognized if property held for productive use in trade or business or for investment (not including stock in trade or other property held primarily for sale, nor stocks, bonds, notes, choses in action, certificates of trust or beneficial interest, or other securities or evidences of indebtedness or interest) is exchanged solely for property of a like kind to be held either for productive use in trade or business or for investment”, and added pars. (2) and (3).
• Pub.L. 99–514, title XVIII, § 1805(d), October 22, 1986, 100 Stat. 2810: in subdivision (a)(3)(A), substituted “on or before the day” for “before the day”.
• Pub.L. 101–239, title VII, § 7601(a), December 19, 1989, 103 Stat. 2370: added subdivisions (f) to (h).
• Pub.L. 101–508, title XI, §§ 11701(h), 11703(d)(1), November 5, 1990, 104 Stat. 1388–508, 1388–517: in subdivision (a)(2), inserted at end “For purposes of this section, an interest in a partnership which has in effect a valid election under section 761(a) to be excluded from the application of all of subchapter K shall be treated as an interest in each of the assets of such partnership and not as an interest in a partnership.”; and substituted “section 267(b) or 707(b)(1)” for “section 267(b)”.
• Pub.L. 105–34, title X, § 1052(a), August 5, 1997, 111 Stat. 940: in subdivision (h), amended heading and text of subdivision (h) generally. Prior to amendment, text read as follows: “For purposes of this section, real property located in the United States and real property located outside the United States are not property of a like kind.”
• Pub.L. 106–36, title III, § 3001(c)(2), June 25, 1999, 113 Stat. 183: in subdivision (d), in last sentence, substituted “assumed (as determined under section 357(d)) a liability of the taxpayer” for “assumed a liability of the taxpayer or acquired from the taxpayer property subject to a liability” and struck out “or acquisition (in the amount of the liability)” after “such assumption”.
• Pub.L. 109–135, title IV, § 412(pp), December 21, 2005, 119 Stat. 2640: in subdivision (h)(2)(B), substituted “subparagraphs” for “subparagraph” in introductory provisions.
• Pub.L. 110–234, title XV, § 15342(a), May 22, 2008, 122 Stat. 1518: added subdivision (i).
• Pub.L. 110–246, § 4(a), title XV, § 15342(a), June 18, 2008, 122 Stat. 1664, 2280: Pub.L. 110–234 and Pub.L. 110–246 made identical amendments to this section. The amendments by Pub.L. 110–234 were repealed by section 4(a) of Pub.L. 110–246.
Thirteen public laws affected your section of interest.
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