A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.
Latest action · Nov 21, 2019 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedNov 21, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 4
Members who signed on, in the order they did. Signatures ran from Nov 21, 2019 to Dec 12, 2019, with 2 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-AK | Lisa Murkowski | Original | Nov 21, 2019 |
| D-NH | Margaret Wood Hassan | Original | Nov 21, 2019 |
| I-ME | Angus S. King Jr. | Dec 12, 2019 | |
| R-ME | Susan M. Collins | Dec 12, 2019 |
Actions 2
Everything that happened, newest first.
- Nov 21, 2019Introduced in Senate
- Nov 21, 2019Read twice and referred to the Committee on Finance.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 7283 | To amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital. | Identical bill | Jun 18, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Nov 21, 2019Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.