Summary: To amend the Internal Revenue Code of 1986 to modify the definition of income for purposes of determining the tax-exempt status of certain mutual or cooperative telephone or electric companies. Cosponsors (Bipartisan)
ANGIE CRAIG’S POSITION: Representative Craig cosponsored the bill on 7/18/19.
STATUS: Introduced 4/9/19 by Rep. Sewell, Terri A. [D-AL-7].
INFORMATION RELATED TO THE BILL:
- “Our rural communities depend on reliable infrastructure, access to broadband and secure energy sources for their local economies to thrive,” Rep. Terri Sewell said. “Alabama’s rural electric co-ops provide essential broadband services in rural areas where high-speed internet is limited but essential to those areas’ economic growth. We must do more to provide high-speed internet – and the opportunities and resources that it brings – to the 22.4 million Americans living in rural parts of our country without quality internet access. The RURAL Act would ensure that these co-ops can retain their tax-exempt status when applying for grants to expand rural broadband or disaster assistance and provide these co-ops with the ability to secure the grants needed to continue to grow their renewable energy, economic development and energy efficiency initiatives.” (Source: Rep. Sewell, Press Release, 4/15/19)