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

Hozzl · 2022-02-08T23:16:51Z

Explore the details of House Bill 7283 To amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7283

Primary Policy Focus

Taxation

Potential Impact Areas

Business investment and capitalIncome tax exclusionPublic utilities and utility ratesSolid waste and recyclingWater 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.

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Sponsors and Cosponsors of HR 7283

Greg Walden

Oregon(Republican)

Ann M. Kuster

New Hampshire(Democrat)

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