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

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 which provides water or sewage disposal services that: (1) is a contribution in aid of construction; (2) meets certain expenditure requirements; and (3) is not included in the taxpayer's rate base. Excludes amounts paid as service charges for starting or stopping services. Determines the depreciation deduction for such property by using the straight line method and provides for a 25-year recovery period.

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Timeline

1. 16 February 1995

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 16 February 1995

   Introduced

   Sponsor introductory remarks on measure. (CR S2844-2845)

   Source: IntroReferral

3. 16 February 1995

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 16 February 1995 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 16 February 1995

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 16 February 1995

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 16 February 1995

  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

• Sen. Grassley, Chuck [R-IA] · R · Sponsor
• Sen. Pryor, David H. [D-AR] · D · Sponsor
• Sen. Reid, Harry [D-NV] · D · Sponsor
• Sen. Baucus, Max [D-MT] · D · Cosponsor
• Sen. D'Amato, Alfonse [R-NY] · R · Cosponsor
• Sen. Breaux, John B. [D-LA] · D · Cosponsor
• Sen. Kyl, Jon [R-AZ] · R · Cosponsor
• Sen. Cohen, William S. [R-ME] · R · Cosponsor
• Sen. Lieberman, Joseph I. [ID-CT] · D · Cosponsor
• Sen. Simon, Paul [D-IL] · D · Cosponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• Sen. Coats, Daniel [R-IN] · R · Cosponsor
• Sen. Lugar, Richard G. [R-IN] · R · Cosponsor
• Sen. Chafee, John H. [R-RI] · R · Cosponsor
• Sen. Smith, Bob [R-NH] · R · Cosponsor
• Sen. Specter, Arlen [R-PA] · R · Cosponsor
• Sen. Dodd, Christopher J. [D-CT] · D · Cosponsor
• · ssfi00 · Standing

Related records

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