A bill to amend the Internal Revenue Code of 1986 to treat rural electric or telephone cooperatives in the same manner as other cooperatives for purposes of the book income preference under the minimum tax.

Summary

Amends the Internal Revenue Code to exclude allocations in the nature of patronage dividends when determining net book income of rural telephone and electric cooperatives for purposes of the minimum tax.

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

Timeline

1. 12 May 1989

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 12 May 1989

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · undated · Official file

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 12 May 1989

  Open at official source

Sponsors

• Sen. Daschle, Thomas A. [D-SD] · D · Sponsor
• Sen. Conrad, Kent [D-ND] · D · Sponsor
• Sen. Burdick, Quentin N. [D-ND] · D · Sponsor
• Sen. Boschwitz, Rudy [R-MN] · R · Sponsor
• Sen. Heflin, Howell [D-AL] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to treat rural electric or telephone cooperatives in the same manner as other cooperatives for purposes of the book income preference under the minimum tax.