Legislative update: Senate Finance to consider variety of tax bills

Senate Finance to consider variety of tax bills

The Senate Finance Committee is scheduled to meet in “open executive session” on Wednesday, February 11, at which time it will consider 17 “original bills” concerning a variety of topics.

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Among the bills are measures that would:

  • Revise rules for real estate investment trusts (REITs), regulated investment companies (RICs), and the Foreign Investment in Real Property Tax Act (FIRPTA)
  • Modify the alternative tax for certain small insurance companies
  • Modify the excise tax on cider
  • Provide rules for charitable contributions to, and public charity status of, agricultural research organizations
  • Provide an exception to the private foundation excess business holding rules for certain philanthropic business holdings
  • Provide for a waste-heat-to-power investment tax credit
  • Convert the tax on liquefied natural gas (LNG) and liquefied petroleum gas (LPG) to an energy-equivalent basis
  • Allow certain clean coal power grants to be excluded from gross income

 

Read the full list of bills on the Finance website.

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