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]

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.

Tracking Information

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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


History

DateChamberAction
2019-11-21SenateRead 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


US Congress State Sources


Bill Comments

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