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H.R. 3188

JUN. 10, 2019

H.R. 3188

DATED JUN. 10, 2019
DOCUMENT ATTRIBUTES
  • Authors
    Thompson, Rep. Mike
  • Institutional Authors
    U.S. House of Representatives
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Tax Analysts Document Number
    2019-25966
  • Tax Analysts Electronic Citation
    2019 TNTF 129-38
Citations: H.R. 3188

116TH CONGRESS
1ST SESSION

H.R. 3188

To amend the Internal Revenue Code of 1986 to extend
the limitation on the carryover of excess corporate charitable
contributions by regulated public utilities.

IN THE HOUSE OF REPRESENTATIVES

JUNE 10, 2019

Mr. THOMPSON of California (for himself and Mr. SMITH
of Missouri) introduced the following bill; which was referred
to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to extend the limitation on the carryover of excess corporate charitable contributions by regulated public utilities.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. EXTENSION OF LIMITATION ON CARRYOVER OF EXCESS CHARITABLE CONTRIBUTIONS BY REGULATED PUBLIC UTILITIES.

(a) IN GENERAL. — Section 170(d)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

"(C) SPECIAL RULE FOR REGULATED PUBLIC UTILITIES. — In the case of a corporation that is a regulated public utility (as defined in section 7701(a)(33)), or an affiliated group of which such a regulated public utility is a part, subparagraph (A) shall be applied by substituting '20 succeeding taxable years' for '5 succeeding taxable years' and by substituting 'each of the second through twentieth' for 'the second, third, fourth, or fifth'.".

(b) EFFECTIVE DATE. — The amendments made by this section shall apply to excess contributions which are deductible under section 170(d)(2)(A) of such Code in succeeding taxable years beginning after December 31, 2019.

DOCUMENT ATTRIBUTES
  • Authors
    Thompson, Rep. Mike
  • Institutional Authors
    U.S. House of Representatives
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Tax Analysts Document Number
    2019-25966
  • Tax Analysts Electronic Citation
    2019 TNTF 129-38
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