Summary: S.794 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for S.794. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (04/26/2001)

Rural Electric Tax Equity Act - Amends the Internal Revenue Code to permit an exempt mutual or electric cooperative to exclude from income certain prepayments of any loan, debt, or obligation made, insured, or guaranteed under the Rural Electrification Act of 1936. Adds rules concerning the treatment of certain amounts received by taxable electric cooperatives.