A bill to amend the Internal Revenue Code of 1986 to clarify the treatment of interest income and rental expense in connection with safe harbor leases involving rural electric cooperatives.

Summary

Requires interest income from certain qualified leased property transactions of rural electric cooperatives to be offset by rental expenses of such transactions before allocating income or expense to members and nonmembers of such cooperatives for purposes of the accelerated cost recovery system of the Internal Revenue Code.

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

Timeline

1. 18 April 1991

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 18 April 1991

   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)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 18 April 1991

  Open at official source

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Sponsors

• Sen. Boren, David L. [D-OK] · D · Sponsor
• Sen. Nickles, Don [R-OK] · R · Cosponsor
• Sen. Brown, Hank [R-CO] · R · Cosponsor
• Sen. Murkowski, Frank H. [R-AK] · R · Cosponsor
• Sen. Conrad, Kent [D-ND] · D · Cosponsor
• Sen. Burdick, Quentin N. [D-ND] · D · Cosponsor
• Sen. Baucus, Max [D-MT] · D · Cosponsor
• Sen. Graham, Bob [D-FL] · D · Cosponsor
• Sen. Pryor, David H. [D-AR] · D · Cosponsor
• Sen. Johnston, J. Bennett [D-LA] · D · Cosponsor
• Sen. Grassley, Chuck [R-IA] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to clarify the treatment of interest income and rental expense in connection with safe harbor leases involving rural electric cooperatives.