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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.
12/30/2022, 9:30 PM
Congressional Summary of S 1997
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.
Read the Full Bill
Current Status of Bill S 1997
Bill S 1997 is currently in the status of Bill Introduced since June 9, 2021. Bill S 1997 was introduced during Congress 117 and was introduced to the Senate on June 9, 2021. Bill S 1997's most recent activity was Read twice and referred to the Committee on Finance. as of June 9, 2021
Bipartisan Support of Bill S 1997
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
4Democrat Cosponsors
1Republican Cosponsors
2Unaffiliated Cosponsors
1Policy Area and Potential Impact of Bill S 1997
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 S 1997
A bill to amend the Internal Revenue Code of 1986 to provide that certain contributions by government entities are treated as contributions to capital.
A bill 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 S 1997
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