Browse Arkansas Code titles and sections
26-51-442. Sale of property to comply with conflict-of-interest requirements.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-51-442. Sale of property to comply with conflict-of-interest requirements.
Title 26 U.S.C. § 1043, as in effect on January 1, 1993, is hereby adopted.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-51-442
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:26-51-442
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 93f59d54b72e60f624780b9cbea5e1b174e3706dacce7c1a581948837a949953
Source location: content.xml paragraph 13048
Stored source content
26-51-442. Sale of property to comply with conflict-of-interest requirements.
Title 26 U.S.C. § 1043, as in effect on January 1, 1993, is hereby adopted.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Nonrecognition of gain** If an eligible person sells any property pursuant to a certificate of divestiture, at the election of the taxpayer, gain from such sale shall be recognized only to the extent that the amount realized on such sale exceeds the cost (to the extent not previously taken into account under this subsection) of any permitted property purchased by the taxpayer during the 60-day period beginning on the date of such sale.
**(b) Definitions** For purposes of this section—
(1) **Eligible person** — The term “eligible person” means—
(A) an officer or employee of the executive branch, or a judicial officer, of the Federal Government, but does not mean a special Government employee as defined in [section 202 of title 18](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title18-section202&num=0&edition=prelim), United States Code, and
(B) any spouse or minor or dependent child whose ownership of any property is attributable under any statute, regulation, rule, judicial canon, or executive order referred to in paragraph (2) to a person referred to in subparagraph (A).
(2) **Certificate of divestiture** — The term “certificate of divestiture” means any written determination—
(A) that states that divestiture of specific property is reasonably necessary to comply with any Federal conflict of interest statute, regulation, rule, judicial canon, or executive order (including [section 208 of title 18](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title18-section208&num=0&edition=prelim), United States Code), or requested by a congressional committee as a condition of confirmation,
(B) that has been issued by the President or the Director of the Office of Government Ethics, in the case of executive branch officers or employ
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1043
Stored review status: release_metadata_unconfirmed. The source passage cites 26 U.S.C. § 1043. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 2291
TITLE 26—INTERNAL REVENUE CODE
§ 1043
Executive Documents
LINE ITEM VETO
Pub. L. 105–34, title IX, § 968, Aug. 5, 1997, 111 Stat. 895,
amending this section and enacting provisions set out
as a note above, was subject to line item veto by the
President, Cancellation No. 97–2, signed Aug. 11, 1997, 62
F.R. 43267, Aug. 12, 1997. For decision holding line item
veto unconstitutional, see Clinton v. City of New York,
524 U.S. 417, 118 S.Ct. 2091, 141 L.Ed.2d 393 (1998).
§ 1043. Sale of property to comply with conflict-
of-interest requirements
(a) Nonrecognition of gain
If an eligible person sells any property pursu-
ant to a certificate of divestiture, at the elec-
tion of the taxpayer, gain from such sale shall
be recognized only to the extent that the
amount realized on such sale exceeds the cost
(to the extent not previously taken into account
under this subsection) of any permitted property
purchased by the taxpayer during the 60-day pe-
riod beginning on the date of such sale.
(b) Definitions
For purposes of this section—
(1) Eligible person
The term ‘‘eligible person’’ means—
(A) an officer or employee of the executive
branch, or a judicial officer, of the Federal
Government, but does not mean a special
Government employee as defined in section
202 of title 18, United States Code, and
(B) any spouse or minor or dependent child
whose ownership of any property is attrib-
utable under any statute, regulation, rule,
judicial canon, or executive order referred to
in paragraph (2) to a person referred to in
subparagraph (A).
(2) Certificate of divestiture
The term ‘‘certificate of divestiture’’ means
any written determination—
(A) that states that divestiture of specific
property is reasonably necessary to comply
with any Federal c
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 1043
Stored review status: historical_2024_not_currentness_verified. The source passage cites 26 U.S.C. § 1043. This identifies an authority to review, not proof of applicability.