A bill to amend the Internal Revenue Code of 1986 with respect to the treatment of certain amounts received by a cooperative telephone company.

Summary

Amends the Internal Revenue Code with respect to the tax-exempt status of a mutual or cooperative telephone company to provide that 50 percent of the income received from a nonmember telephone company for services by the cooperative shall be treated as collected from members of the cooperative for the sole purpose of meeting the losses and expenses of the cooperative. Excludes, in determining the income of a cooperative: (1) billing and collection services performed for a nonmember telephone company; and (2) certain reserve income that does not exceed 35 percent of the company's total income. Subjects a portion of such reserve income to unrelated business income tax.

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

Timeline

1. 22 May 1997

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 22 May 1997

   Introduced

   Sponsor introductory remarks on measure. (CR S5009-5010)

   Source: IntroReferral

3. 22 May 1997

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 22 May 1997 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 22 May 1997

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 May 1997

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 22 May 1997

  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. Daschle, Thomas A. [D-SD] · D · Sponsor
• Sen. Dorgan, Byron L. [D-ND] · D · Sponsor
• Sen. Grassley, Chuck [R-IA] · R · Sponsor
• Sen. Johnson, Tim [D-SD] · D · Sponsor
• Sen. Conrad, Kent [D-ND] · D · Sponsor
• Sen. Baucus, Max [D-MT] · D · Cosponsor
• Sen. Harkin, Tom [D-IA] · D · Cosponsor
• Sen. Wellstone, Paul D. [D-MN] · D · Cosponsor
• · ssfi00 · Standing

Related records

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