Summary: S.1032 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.1032. Bill summaries are authored by CRS.

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Introduced in Senate (04/04/2019)

Revitalizing Underdeveloped Rural Areas and Lands (RURAL) Act

This bill modifies the definition of income used to determine the tax-exempt status of a mutual or cooperative telephone or electric company to exclude certain government grants, contributions, and assistance.

Specifically, the bill excludes from income (1) grants, contributions, and assistance provided under the Robert T. Stafford Disaster Relief and Emergency Assistance Act or by local, state, or regional governmental entities for disasters or emergencies; and (2) certain grants or contributions provided by a government entity for electric, communications, broadband, internet, or other utility facilities or services.