HR 12339 · 95th Congress · Taxation
A bill to amend section 118 of the Internal Revenue Code of 1954 to clarify the treatment of contributions in aid of construction to regulated electric or gas public utilities.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1978-04-25)
Plain Language Summary
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Amends the Internal Revenue Code to allow public utilities to exclude from gross income, as contributions to capital, all amounts received in aid of construction of electric energy, steam, or gas facilities.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (13)
8 Democrats5 Republicans