Summary: S.2818 — 96th Congress (1979-1980)All Information (Except Text)

There is one summary for S.2818. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (06/11/1980)

Amends the Internal Revenue Code to provide that any income received or accrued by a tax-exempt mutual or cooperative electric or telephone company from qualified pole rentals, or by a cooperative telephone company from the sale of display listings in a directory furnished to company members, shall not be treated as unrelated business income subject to tax.

Defines qualified pole rental as any rental of a pole (or other structure used to support wires) if: (1) such pole or structure is used by the telephone or electric company in providing telephone or electric services to its members; and (2) the use of such pole or structure pursuant to the rental is in connection with the transmission by wire of electricity or of telephone or other communications.