A bill to amend sections 46(f) and 167(l) of the Internal Revenue Code of 1954 with respect to the treatment of public utility property.

Summary

Amends the Internal Revenue Code to provide that public utilities which utilize for ratemaking purposes a procedure or adjustment which is inconsistent with methods used in estimating or projecting tax expenses, depreciation expenses, or reserves for deferred taxes shall not be considered to have complied with the normalization method of accounting required for computing the accelerated depreciation and investment tax credit amounts of such utilities. Authorizes the Secretary of the Treasury to prescribe regulations which define other procedures and adjustments which are inconsistent with the normalization method of accounting. Provides that violations of normalization requirements shall not result in a public utility's loss of eligibility for accelerated depreciation or the investment tax credit if: (1) such violations involved the use of estimates, projections, or adjustments to the utility's rate of return; and (2) such estimates, adjustments, or projections only applied for periods ending prior to March 1, 1980, and were included in certain specified orders of a public utility commission. Delays the payment of any tax refunds or credits for overpayments resulting from the amendments made by this Act until after October 1, 1981.

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

Timeline

1. 30 January 1981

   Introduced

   Introduced in House

   Source: IntroReferral

2. 30 January 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

3. 30 January 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 21 June 1982

   Committee

   Committee Hearings Held.

   Source: Committee

5. 15 September 1982

   Reported

   Ordered to be Reported (Amended).

   Source: Committee

6. 15 September 1982

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

7. 16 September 1982

   Reported

   Reported to House (Amended) by House Committee on Ways and Means. Report No: 97-827.

   Source: Committee

8. 16 September 1982

   Reported

   Reported to House (Amended) by House Committee on Ways and Means. Report No: 97-827.

   Source: Committee

9. 16 September 1982

   Calendars

   Placed on Union Calendar No: 510.

   Source: Calendars

10. 20 September 1982

    Passed

    Passed House (Amended) by Voice Vote.

    Source: Floor

11. 20 September 1982

    Passed

    Passed/agreed to in House: Passed House (Amended) by Voice Vote.

    Source: Floor

12. 20 September 1982

    Floor

    Called up by House Under Suspension of Rules.

    Source: Floor

13. 22 September 1982

    Introduced

    Received in the Senate and read twice and referred to the Committee on Finance.

    Source: IntroReferral

14. 24 September 1982

    Committee

    Committee on Finance. Committee consideration and Mark Up Session held.

    Source: Committee

15. 27 September 1982

    Committee

    Committee on Finance requested executive comment from OMB; Treasury Department.

    Source: Committee

16. 28 September 1982

    Reported

    Committee on Finance. Ordered to be reported with amendments favorably.

    Source: Committee

17. 30 September 1982

    Calendars

    Placed on Senate Legislative Calendar under Regular Orders. Calendar No. 933.

    Source: Calendars

18. 30 September 1982

    Reported

    Committee on Finance. Reported to Senate by Senator Dole with amendments and an amendment to the title. With written report No. 97-643.

    Source: Committee

19. 30 September 1982

    Reported

    Committee on Finance. Reported to Senate by Senator Dole with amendments and an amendment to the title. With written report No. 97-643.

    Source: Committee

20. 9 December 1982

    Floor

    Motion to proceed to consideration of measure made in Senate.

    Source: Floor

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

4 official files

• Reported to Senate with amendment(s)

  summary · EN · 30 September 1982

  Open at official source

• Passed House amended

  summary · EN · 20 September 1982

  Open at official source

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  Vertaal document

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• Reported to House with amendment(s)

  summary · EN · 16 September 1982

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

• Introduced in House

  summary · EN · 30 January 1981

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Rousselot, John H. [R-CA-26] · R · Sponsor
• Rep. Matsui, Robert T. [D-CA-5] · D · Sponsor
• · ssfi00 · Standing
• · hswm00 · Standing

Related records

• related to → A bill to amend sections 46(f) and 167 (l) of the Internal Revenue Code of 1954 regarding the treatment of public utility property and to provide a transitional rule with respect thereto.
• related to → A bill to amend sections 46 (f) and 167 (l) of the Internal Revenue Code of 1954 with respect to the treatment of public utility property.
• related to ← A bill to amend sections 46 (f) and 167 (l) of the Internal Revenue Code of 1954 with respect to the treatment of public utility property.
• amends ← SAMDT 4971
• amends ← SAMDT 4969
• amends ← SAMDT 4973
• amends ← SAMDT 4975
• amends ← SAMDT 4970
• amends ← SAMDT 4972
• amends ← SAMDT 4974

Showing 10 of 11 related records.