A bill to amend the Internal Revenue Code of 1954 to clarify the tax status of certain industrial development bonds issued to provide facilities for the furnishing of water used to cool thermal generating plants or to generate hydroelectric energy.

Summary

Amends the Internal Revenue Code to stipulate that for specified bond issues, the proceeds of which are used for providing facilities with hydroelectric energy, the provisions concerning taxation of interest on industrial revenue bonds shall be inapplicable and any interest received from such governmental obligations shall be excluded from gross income.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 31 March 1976

   Introduced

   Introduced in House

   Source: IntroReferral

2. 31 March 1976

   Introduced

   Introduced in House

   Source: IntroReferral

3. 31 March 1976

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 31 March 1976

  Open at official source

Sponsors

• Rep. Burleson, Omar [D-TX-17] · D · Sponsor
• · hswm00 · Standing

Related records

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