Sewer and Water Fee Deductibility Act of 1993

Summary

Sewer and Water Fee Deductibility Act of 1993 - Amends the Internal Revenue Code to allow a deduction for fees imposed by a State or local government for water or sewer services in the same manner as local real property taxes. Limits such deduction to the extent that such fees exceed one percent of adjusted gross income. Disallows any corporate deduction for payments to the government under environmental settlement agreements or for compensatory damages relating to violations of environmental laws. Prohibits the net operating loss deduction from reducing taxable income to an amount less than such disallowed amount.

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Timeline

1. 22 June 1993

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 22 June 1993

   Introduced

   Sponsor introductory remarks on measure. (CR S7620)

   Source: IntroReferral

3. 22 June 1993

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 22 June 1993 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 22 June 1993

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 June 1993

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 22 June 1993

  Open at official source

Sponsors

• Sen. Kerry, John F. [D-MA] · D · Sponsor
• Sen. Kennedy, Edward M. [D-MA] · D · Sponsor
• · ssfi00 · Standing

Related records

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