S.1032 - Revitalizing Underdeveloped Rural Areas and Lands (RURAL) Act116th Congress (2019-2020) |
|Sponsor:||Sen. Portman, Rob [R-OH] (Introduced 04/04/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 04/04/2019 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.1032 — 116th Congress (2019-2020)All Information (Except Text)
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.