H.R.1986 - Municipal Utility Natural Gas Supply Act Of 2001107th Congress (2001-2002)
||Rep. Collins, Mac [R-GA-3] (Introduced 05/24/2001)
||House - Ways and Means
||05/24/2001 Referred to the House Committee on Ways and Means. (All Actions)
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Introduced in House (05/24/2001)
Municipal Utility Natural Gas Supply Act of 2001 - Amends the Internal Revenue Code to exclude from the definition of the term "investment property," as such term is used in defining "higher yield investments," any prepayment on a supply contract for the purpose of obtaining a supply of natural gas reasonably expected to be used by a utility which is owned and operated by a State or local government, or any State or local government political subdivision or instrumentality (thus permitting municipal gas systems to use their tax-exempt borrowing authority to fund the purchase of long-term, prepaid supplies of natural gas).