Committee/Subcommittee: | Activity: | |
House Ways and Means | Referral |
***NONE***
***NONE***
Rep Crane, Philip M. - 3/24/1999 | Rep Johnson, Nancy L. - 3/24/1999 |
Rep Ramstad, Jim - 3/24/1999 | Rep Weller, Jerry - 4/20/1999 |
Amends the Internal Revenue Code to revise the definition of a private activity bond to include a bond issued for the construction or acquisition of a governmental electric output facility, except for a bond issued for the construction or acquisition of a local governmental electric output facility (as defined).
Subjects to taxation income derived by any governmental utility from sales of electric energy services to persons: (1) not within a qualified governmental service area of such utility; and (2) for resale if such resale is to persons outside such service area. Sets forth exceptions.