Description of H. R. 1150 (Utility Ratepayer Refund Act of 1989), and H. R. 2493 (Utility Customer Refund Act of 1989): Scheduled for a Hearing Before

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Excerpt from Description of H. R. 1150 (Utility Ratepayer Refund Act of 1989), And H. R. 2493 (Utility Customer Refund Act of 1989): Scheduled for a Hearing Before the Committee on Ways and Means on October 4, 1989For purposes of computing Federal income tax expense in setting rates and computing operating results in regulated books of account, the Tax Reform Act of 1986 (the 1986 Act) requires public utilities to normalize the portion of their deferred tax reserve that is considered as excess due to the 1986 Act reduction in corporate income tax rates. This excess deferred tax reserve, which represents taxes that previously have been charged to ratepayers (but which have not been paid to the Federal Government and will not be paid to the Federal Government unless the corporate tax rates are increased in the future) is considered to be normalized only if the reserve is reduced no more rapidly than over the remaining regulatory lives of the property that gave rise to the reserve.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.