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S 2942 116th Congress Senate Taxation Business investment and capital Income tax exclusion Public utilities and utility rates Solid waste and recycling Water use and supply

A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.

Introduced: November 21, 2019 Introduced by: Shaheen, Jeanne Democratic · New Hampshire See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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
Nov 21, 2019
Read twice and referred to the Committee on Finance.
Nov 21, 2019
Introduced in Senate
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 Plain-English summary Congressional Research Service

This bill amends the Internal Revenue Code to revise requirements for the tax exclusion for contributions to the capital of a corporation. Specifically, the bill allows an exclusion for certain amounts received by a regulated public utility that provides water or sewerage disposal services.

What's happening now November 21, 2019

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 7283 Identical bill To amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as …
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 1 Republican 2 Independent 1
R
Collins, Susan M.
Maine · Dec 12, 2019
 I
King, Angus S., Jr.
Maine · Dec 12, 2019
 D
Hassan, Margaret Wood
New Hampshire · Nov 21, 2019
 R
Murkowski, Lisa
Alaska · Nov 21, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2942: A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.. 116th Congress. Open America. https://openamerica.io/bill/116-S-2942/
MLA
"S. 2942: A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-2942/.
Bluebook (legal)
S. 2942, 116th Cong. (2026), https://openamerica.io/bill/116-S-2942/.
Markdown link
[S. 2942: A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.](https://openamerica.io/bill/116-S-2942/)
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