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S 791 105th Congress Senate

A bill to amend the Internal Revenue Code of 1986 with respect to the treatment of certain amounts received by a cooperative telephone company.

Introduced: May 22, 1997 See on congress.gov
Taxation Business income taxCollection of accountsCommerceConsumer cooperatives
More subjectsShow fewer subjects
FeesIncome taxScience, Technology, CommunicationsTax-exempt organizationsTelecommunication industryTelephoneUnrelated business income tax
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) 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
May 22, 1997
Read twice and referred to the Committee on Finance.
May 22, 1997
Sponsor introductory remarks on measure. (CR S5009-5010)
May 22, 1997
Introduced in Senate
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 Latest action May 22, 1997

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code with respect to the tax-exempt status of a mutual or cooperative telephone company to provide that 50 percent of the income received from a nonmember telephone company for services by the cooperative shall be treated as collected from members of the cooperative for the sole purpose of meeting the losses and expenses of the cooperative.

Excludes, in determining the income of a cooperative: (1) billing and collection services performed for a nonmember telephone company; and (2) certain reserve income that does not exceed 35 percent of the company's total income. Subjects a portion of such reserve income to unrelated business income tax.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · May 22, 1997
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APA
U.S. Congress. (2026). S. 791: A bill to amend the Internal Revenue Code of 1986 with respect to the treatment of certain amounts received by a cooperative telephone company.. 105th Congress. Open America. https://openamerica.io/bill/105-S-791/
MLA
"S. 791: A bill to amend the Internal Revenue Code of 1986 with respect to the treatment of certain amounts received by a cooperative telephone company.." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-S-791/.
Bluebook (legal)
S. 791, 105th Cong. (2026), https://openamerica.io/bill/105-S-791/.
Markdown link
[S. 791: A bill to amend the Internal Revenue Code of 1986 with respect to the treatment of certain amounts received by a cooperative telephone company.](https://openamerica.io/bill/105-S-791/)
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