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- H.R.7857
H.R.7857: CAN Act
About This Bill
- Introduced July 30, 2020
- Latest Major Action July 30, 2020
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Version
- Introduced in House - July 30, 2020
Bill Summary
Connect America Now Act or the CAN Act This bill allows an exclusion from gross income, for income tax purposes, of gain from the sale or exchange of the entire interest in a wholly-owned rural incumbent local exchange carrier. A rural incumbent local exchange carrier is a carrier that serves an area where it is required to provide communications services to any customer regardless of cost, and an area other than an urbanized area with not...
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
| Date | Description |
|---|---|
| July 30, 2020 |
Referred to the Subcommittee on Select Revenue Measures.
|
| July 30, 2020 |
Referred to the House Committee on Ways and Means.
|
| July 30, 2020 |
Introduced in the House by A. Drew Ferguson (R-Ga.) |