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To amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.
2/8/2022, 11:16 PM
Congressional Summary of HR 7283
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.
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Current Status of Bill HR 7283
Bill HR 7283 is currently in the status of Bill Introduced since June 18, 2020. Bill HR 7283 was introduced during Congress 116 and was introduced to the House on June 18, 2020. Bill HR 7283's most recent activity was Referred to the House Committee on Ways and Means. as of June 18, 2020
Bipartisan Support of Bill HR 7283
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7283
Primary Policy Focus
TaxationPotential Impact Areas
- Business investment and capital
- Income tax exclusion
- Public utilities and utility rates
- Solid waste and recycling
- Water use and supply
Alternate Title(s) of Bill HR 7283
To amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.
To amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.
Comments
Sponsors and Cosponsors of HR 7283
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A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.
Bill S 2942October 28, 2022