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I
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) intro-
duced 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 chari-
table contributions by regulated public utilities.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. EXTENSION OF LIMITATION ON CARRYOVER OF
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EXCESS CHARITABLE CONTRIBUTIONS BY
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REGULATED PUBLIC UTILITIES.
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(a) IN GENERAL.—Section 170(d)(2) of the Internal
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Revenue Code of 1986 is amended by adding at the end
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the following new subparagraph:
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•HR 3188 IH
‘‘(C) SPECIAL RULE FOR REGULATED PUB-
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LIC UTILITIES.—In the case of a corporation
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that is a regulated public utility (as defined in
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section 7701(a)(33)), or an affiliated group of
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which such a regulated public utility is a part,
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subparagraph (A) shall be applied by sub-
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stituting ‘20 succeeding taxable years’ for ‘5
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succeeding taxable years’ and by substituting
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‘each of the second through twentieth’ for ‘the
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second, third, fourth, or fifth’.’’.
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(b) EFFECTIVE DATE.—The amendments made by
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this section shall apply to excess contributions which are
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deductible under section 170(d)(2)(A) of such Code in suc-
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ceeding taxable years beginning after December 31, 2019.
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