A bill to amend section 118 of the Internal Revenue Code of 1954 to clarify the treatment of contributions in aid of construction to regulated electric or gas utilities.

Summary

Amends the Internal Revenue Code to allow public utilities to exclude from gross income, as contributions to capital, all amounts received in aid of construction of electric energy, steam, or gas facilities.

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

Timeline

1. 7 June 1978

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 7 June 1978

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 7 June 1978

  Open at official source

Sponsors

• Sen. Laxalt, Paul D. [R-NV] · R · Sponsor
• Sen. Curtis, Carl T. [R-NE] · R · Cosponsor
• Sen. Cannon, Howard W. [D-NV] · D · Cosponsor
• Sen. Bentsen, Lloyd M. [D-TX] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend section 118 of the Internal Revenue Code of 1954 to clarify the treatment of contributions in aid of construction to regulated electric or gas public utilities.