A bill to amend section 118 of the Internal Revenue Code of 1986 to provide for certain exceptions from certain rules for determining contributions in aid of construction.

Summary

Amends the Internal Revenue Code with respect to the corporate income tax exclusion of contributions to the capital of the taxpayer. Includes as a qualifying contribution any amount of money or property received by a regulated public utility (a utility required to provide electric energy, gas, water, or sewage disposal services) that: (1) is a contribution in aid of construction (as defined by regulations to be promulgated by the Secretary of the Treasury); (2) meets certain expenditure requirements; and (3) is not included in the taxpayer's rate base. Excludes amounts paid as customer connection fees.

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

Timeline

1. 26 June 1991

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 26 June 1991

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 19 February 1992

   Committee

   Committee on Finance. Hearings held. Hearings printed: S.Hrg. 102-673.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · — · Download file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 26 June 1991

  Open at official source

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Sponsors

• Sen. Reid, Harry [D-NV] · D · Sponsor
• Sen. Graham, Bob [D-FL] · D · Sponsor
• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• Sen. Bond, Christopher S. [R-MO] · R · Cosponsor
• Sen. Harkin, Tom [D-IA] · D · Cosponsor
• Sen. Helms, Jesse [R-NC] · R · Cosponsor
• Sen. Inouye, Daniel K. [D-HI] · D · Cosponsor
• Sen. Cochran, Thad [R-MS] · R · Cosponsor
• Sen. Burdick, Quentin N. [D-ND] · D · Cosponsor
• Sen. Symms, Steven D. [R-ID] · R · Cosponsor
• Sen. Craig, Larry E. [R-ID] · R · Cosponsor
• Sen. Pressler, Larry [R-SD] · R · Cosponsor
• Sen. Simon, Paul [D-IL] · D · Cosponsor
• Sen. Leahy, Patrick J. [D-VT] · D · Cosponsor
• Sen. Nickles, Don [R-OK] · R · Cosponsor
• Sen. Burns, Conrad R. [R-MT] · R · Cosponsor
• Sen. Danforth, John C. [R-MO] · R · Cosponsor
• Sen. Mack, Connie, III [R-FL] · R · Cosponsor
• Sen. Pryor, David H. [D-AR] · D · Cosponsor
• Sen. Grassley, Chuck [R-IA] · R · Cosponsor
• Sen. Moynihan, Daniel Patrick [D-NY] · D · Cosponsor
• Sen. Murkowski, Frank H. [R-AK] · R · Cosponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Cosponsor
• Sen. Daschle, Thomas A. [D-SD] · D · Cosponsor
• Sen. Specter, Arlen [R-PA] · R · Cosponsor
• Sen. Smith, Bob [R-NH] · R · Cosponsor
• Sen. Cohen, William S. [R-ME] · R · Cosponsor
• Sen. Dodd, Christopher J. [D-CT] · D · Cosponsor
• Sen. Bryan, Richard H. [D-NV] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → To amend section 118 of the Internal Revenue Code of 1986 to provide for certain exceptions from certain rules for determining contributions in aid of construction.
• amends ← To amend section 6109 of the Internal Revenue Code of 1986 to provide for information reporting with respect to certain seller-provided financing.