H.R.4971 - Electric Power Industry Tax Modernization Act106th Congress (1999-2000)
|Sponsor:||Rep. Hayworth, J. D. [R-AZ-6] (Introduced 07/26/2000)|
|Committees:||House - Ways and Means|
|Latest Action:||07/26/2000 Referred to the House Committee on Ways and Means.|
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Summary: H.R.4971 — 106th Congress (1999-2000)All Bill Information (Except Text)
Electric Power Industry Tax Modernization Act - Amends the Internal Revenue Code to permit a governmental unit to make an irrevocable election to terminate certain tax-exempt financing for electric output facilities.
Introduced in House (07/26/2000)
Sets forth provisions concerning independent transmission companies.
Provides for the exclusion from gross income as contributions to capital of certain amounts received by electric utilities.
Revises the special rules concerning the tax treatment of nuclear decommissioning costs.