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

referredUnited States· United States Congress· EN

Introduced

23 February 1989

Last action

23 February 1989 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Reid, Harry [D-NV], Sen. Danforth, John C. [R-MO], Sen. Graham, Bob [D-FL], Sen. Symms, Steven D. [R-ID], Sen. Grassley, Chuck [R-IA], Sen. Burdick, Quentin N. [D-ND], Sen. Dodd, Christopher J. [D-CT], Sen. Bryan, Richard H. [D-NV], Sen. Gore, Albert, Jr. [D-TN], Sen. Specter, Arlen [R-PA], Sen. Harkin, Tom [D-IA], Sen. Pryor, David H. [D-AR], Sen. Cohen, William S. [R-ME], Sen. Heinz, John [R-PA], Sen. Dixon, Alan J. [D-IL], Sen. Lugar, Richard G. [R-IN], Sen. McClure, James A. [R-ID], Sen. Burns, Conrad R. [R-MT], Sen. Simon, Paul [D-IL], Sen. Cochran, Thad [R-MS], Sen. Daschle, Thomas A. [D-SD], Sen. Helms, Jesse [R-NC], Sen. Cranston, Alan [D-CA], Sen. Stevens, Ted [R-AK], Sen. Armstrong, William L. [R-CO], Sen. Pressler, Larry [R-SD], Sen. Boschwitz, Rudy [R-MN], Sen. Lott, Trent [R-MS], Sen. Bond, Christopher S. [R-MO], Sen. Lieberman, Joseph I. [ID-CT], Sen. Wilson, Pete [R-CA], Sen. Gorton, Slade [R-WA], Sen. Sanford, Terry [D-NC], Sen. Humphrey, Gordon J. [R-NH], Sen. Inouye, Daniel K. [D-HI], Sen. Durenberger, Dave [R-MN], Sen. Wallop, Malcolm [R-WY], Sen. Nickles, Don [R-OK], Sen. Gramm, Phil [R-TX], Sen. Murkowski, Frank H. [R-AK], Sen. Mack, Connie, III [R-FL], Sen. Adams, Brock [D-WA], Sen. D'Amato, Alfonse [R-NY]

Subjects

Taxation

Source updated

14 January 2025

Taxation

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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

23 February 1989
Introduced
Read twice and referred to the Committee on Finance.
Source: IntroReferral
23 February 1989
Introduced
Introduced in Senate
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in Senate · — · Download file

Documents

2 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN
View Download Open at official source
Introduced in Senate
summary · EN · 23 February 1989
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to → To amend section 118 of the Internal Revenue Code to provide for certain exceptions from certain rules for determining contributions in aid of construction.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/101st-congress/senate-bill/435
Open data entity: https://api.congress.gov/v3/bill/101/s/435
us · 101-s-435 · source updated 14 January 2025