HR 778
103th Congress
House
Taxation
Collection of accounts
Consumer cooperatives
Fees
Income tax
Tax-exempt organizations
Telephone
Unrelated business income tax
To amend the Internal Revenue Code of 1986 to provide for the treatment of certain amounts received by cooperative telephone companies.
Introduced: February 3, 1993
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 4, 1993
Sponsor introductory remarks on measure. (CR E304)
Feb 3, 1993
For Previous Action See H.R.614.
Feb 3, 1993
Referred to the House Committee on Ways and Means.
Feb 3, 1993
Introduced in House
Plain-English summary
Amends the Internal Revenue Code with respect to the tax-exempt status of a cooperative telephone company to provide for the tax treatment of income received from a nonmember telephone company for services by the cooperative which are indirectly paid for by members of the cooperative. Includes billing and collection services for a nonmember telephone company under such treatment.
Provides for the tax treatment of account reserve income that does not exceed a specified percentage of the company's total income. Subjects a portion of such investment income to unrelated business income tax.
What's happening now
Sponsor introductory remarks on measure. (CR E304)
Committees of jurisdiction
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