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S 448 104th Congress Senate

A bill to amend section 118 of the Internal Revenue Code of 1986 to provide for certain exceptions from rules for determining contributions in aid of construction, and for other purposes.

Introduced: February 16, 1995 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
Taxation CommerceConstruction costsCorporation taxesDepreciation and amortization
More subjectsShow fewer subjects
EnergyEnergy policyEnvironmental ProtectionIncome taxInvestment tax creditPublic utilitiesSewage disposalTax deductionsTax exclusionWater Resources DevelopmentWater supply
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This bill died when the 104th Congress ended
It never became law before the 104th Congress (1995–1996) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 16, 1995
Read twice and referred to the Committee on Finance.
Feb 16, 1995
Sponsor introductory remarks on measure. (CR S2844-2845)
Feb 16, 1995
Introduced in Senate
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 Latest action February 16, 1995

Read twice and referred to the Committee on Finance.

 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 which provides water or sewage disposal services that: (1) is a contribution in aid of construction; (2) meets certain expenditure requirements; and (3) is not included in the taxpayer's rate base. Excludes amounts paid as service charges for starting or stopping services.

Determines the depreciation deduction for such property by using the straight line method and provides for a 25-year recovery period.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 448: A bill to amend section 118 of the Internal Revenue Code of 1986 to provide for certain exceptions from rules for determining contributions in aid of construction, and for other purposes.. 104th Congress. Open America. https://openamerica.io/bill/104-S-448/
MLA
"S. 448: A bill to amend section 118 of the Internal Revenue Code of 1986 to provide for certain exceptions from rules for determining contributions in aid of construction, and for other purposes.." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-S-448/.
Bluebook (legal)
S. 448, 104th Cong. (2026), https://openamerica.io/bill/104-S-448/.
Markdown link
[S. 448: A bill to amend section 118 of the Internal Revenue Code of 1986 to provide for certain exceptions from rules for determining contributions in aid of construction, and for other purposes.](https://openamerica.io/bill/104-S-448/)
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