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SENATE 1997117th CongressRead twice and referred to the Committee on Finance.

A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.

Last Action
6/9/2021

Actions

  • 2021-06-09Read twice and referred to the Committee on Finance.
  • 2021-06-09Introduced in Senate

CRS Summary

As of 2021-06-09 (00)

This bill revises requirements for the tax exclusion for contributions to the capital of a corporation. Specifically, the bill allows an exclusion for certain amounts received by a regulated public utility that provides water or sewerage disposal services.

Cosponsors (4)

  • Lisa Murkowski (R-AK)
  • Maggie Hassan (D-NH)
  • Angus King (I-ME)
  • Susan Collins (R-ME)

Subjects

  • Business investment and capital
  • Income tax exclusion
  • Public utilities and utility rates
  • Solid waste and recycling
  • Water use and supply
Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.