GovTrack’s Bill Summary
We don’t have a summary available yet.
Library of Congress Summary
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
Amends the Internal Revenue Code to:
(1) treat income and gains from the use, sale, or exchange of infrastructure property as qualifying income for purposes of the tax treatment of publicly-traded partnerships;
(2) exempt publicly-traded partnerships from the limitation on the tax deduction for income attributable to oil-related qualified production activities;
(3) allow accelerated depreciation of infrastructure property (i.e., classify such property as five-year property); and
(4) treat exchanges of infrastructure property as like-kind exchanges (thus exempting gain from such exchanges from tax).
Defines "infrastructure property" as property which is part of:
(1) roads and related improvements;
(2) train tracks and related improvements;
(4) docks and wharves;
(5) facilities for sewage, solid waste disposal, the furnishing of water, the transmission and distribution of natural gas, or the generation, transmission, and distribution of electricity; or
(6) communications facilities.
House Republican Conference Summary
The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.
No summary available.
House Democratic Caucus Summary
The House Democratic Caucus does not provide summaries of bills.
So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.
We’ll be looking for a source of summaries from the other side in the meanwhile.