S. 1622 — A bill to amend the Internal Revenue Code of 1986 to treat rural electric or telephone cooperatives in the same manner as other cooperatives for purposes of the book income preference under the minimum tax.

Summary

Amends the Internal Revenue Code to allow rural telephone and electric cooperatives to exclude allocations in the nature of patronage dividends when determining net book income for purposes of the minimum tax.

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Related Legislation

H.R. 3044A bill to amend the Internal Revenue Code of 1986 to treat rural electric or telephone cooperatives in the same manner as other cooperatives for purposes of the book income preference under the minimum tax.
1987-07-29Referred to House Committee on Ways and Means.
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Legislative Actions

1987-08-07
Introduced in Senate
1987-08-07
Read twice and referred to the Committee on Finance.

A bill to amend the Internal Revenue Code of 1986 to treat rural electric or telephone cooperatives in the same manner as other cooperatives for purposes of the book income preference under the minimum tax.

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