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S 435 101th Congress Senate Taxation Construction costs Corporation taxes Gifts Income tax Public utilities Tax exclusion

A bill to amend section 118 of the Internal Revenue Code to provide for certain exceptions from certain rules determining contributions in aid of construction.

Introduced: February 23, 1989 See on congress.gov
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This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 23, 1989
Read twice and referred to the Committee on Finance.
Feb 23, 1989
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code with respect to the corporate income tax exclusion of contributions to the capital of the taxpayer. Includes as a qualifying contribution any amount of money or property received by a regulated public utility (a utility required to provide electric energy, gas, water, or sewage disposal services) that: (1) is a contribution in aid of construction (as defined by regulations to be promulgated by the Secretary of the Treasury); (2) meets certain expenditure requirements; and (3) is not included in the taxpayer's rate base. Excludes amounts paid as customer connection fees.

What's happening now February 23, 1989

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 118 Identical bill To amend section 118 of the Internal Revenue Code to provide for certain exceptions from certain rules for determining …
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Mar 7, 1989
Cite this page click to expand
APA
U.S. Congress. (2026). S. 435: A bill to amend section 118 of the Internal Revenue Code to provide for certain exceptions from certain rules determining contributions in aid of construction.. 101st Congress. Open America. https://openamerica.io/bill/101-S-435/
MLA
"S. 435: A bill to amend section 118 of the Internal Revenue Code to provide for certain exceptions from certain rules determining contributions in aid of construction.." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-S-435/.
Bluebook (legal)
S. 435, 101st Cong. (2026), https://openamerica.io/bill/101-S-435/.
Markdown link
[S. 435: A bill to amend section 118 of the Internal Revenue Code to provide for certain exceptions from certain rules determining contributions in aid of construction.](https://openamerica.io/bill/101-S-435/)
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