HR 2441
103th Congress
House
Taxation
Business losses
Corporation taxes
Damages
Environmental Protection
Income tax
Liability for environmental damages
Municipal services
Sewage disposal
Tax deductions
User charges
Water rates
Water use
Sewer and Water Fee Deductibility Act of 1993
Introduced: June 16, 1993
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 16, 1993
Referred to the House Committee on Ways and Means.
Jun 16, 1993
Sponsor introductory remarks on measure. (CR E1531)
Jun 16, 1993
Introduced in House
Plain-English summary
Sewer and Water Fee Deductibility Act of 1993 - Amends the Internal Revenue Code to allow a deduction for fees imposed by a State or local government for water or sewer services in the same manner as local real property taxes. Limits such deduction to the extent that such fees exceed one percent of adjusted gross income.
Disallows any corporate deduction for payments to the government under environmental settlement agreements or for compensatory damages relating to violations of environmental laws. Prohibits the net operating loss deduction from reducing taxable income to an amount less than such disallowed amount.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1