[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3188 Introduced in House (IH)]

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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.


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                    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

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                                 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.
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