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
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
Plain-English summary
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
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1