Summary: S.2942 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.2942. Bill summaries are authored by CRS.

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Introduced in Senate (11/21/2019)

This bill amends the Internal Revenue Code to revise requirements for the tax exclusion for contributions to the capital of a corporation. Specifically, the bill allows an exclusion for certain amounts received by a regulated public utility that provides water or sewerage disposal services.