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

Hozzl · 2022-12-30T21:30:50Z

Explore the details of Senate Bill 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. currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

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.

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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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 1997

Primary Policy Focus

Taxation

Potential 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.