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 · Jun 9, 2021 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.
- IntroducedJun 9, 2021
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
This bill revises 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 Jun 9, 2021 to Jun 17, 2021; 2 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-AK | Lisa Murkowski | Original | Jun 9, 2021 |
| D-NH | Margaret Wood Hassan | Original | Jun 9, 2021 |
| I-ME | Angus S. King Jr. | Jun 17, 2021 | |
| R-ME | Susan M. Collins | Jun 17, 2021 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Jun 9, 2021 |
Actions 2
Everything that happened, newest first.
- Jun 9, 2021Introduced in Senate
- Jun 9, 2021Read twice and referred to the Committee on Finance.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| 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. | Reintroduction of | Nov 21, 2019 |
| HR 5366 | To amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital. | Identical bill | Sep 24, 2021 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jun 9, 2021Introduced 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
