US SB2942 | 2019-2020 | 116th Congress
Status
Spectrum:
Status: Introduced on November 21 2019 - 25% progression, died in committee
Action: 2019-11-21 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on November 21 2019 - 25% progression, died in committee
Action: 2019-11-21 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code to revise requirements for the tax exclusion for contributions to the capital of a corporation. Specifically, the bill allows an exclusion for certain amounts received by a regulated public utility that provides water or sewerage disposal services.
Title
A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.
Sponsors
Sen. Jeanne Shaheen [D-NH] | Sen. Lisa Murkowski [R-AK] | Sen. Margaret Hassan [D-NH] | Sen. Susan Collins [R-ME] |
Sen. Angus King [I-ME] |
History
Date | Chamber | Action |
---|---|---|
2019-11-21 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB7283 (Same As) 2020-06-18 - Referred to the House Committee on Ways and Means.
Subjects
Business investment and capital
Income tax exclusion
Public utilities and utility rates
Solid waste and recycling
Taxation
Water use and supply
Income tax exclusion
Public utilities and utility rates
Solid waste and recycling
Taxation
Water use and supply
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/2942/all-info |
Text | https://www.congress.gov/116/bills/s2942/BILLS-116s2942is.pdf |