PASS the RURAL Act to Protect the Tax Status of Electric Co-ops!
Most of America’s electric cooperatives are tax exempt organizations. As community-focused, member owned corporations, electric cooperatives must receive no less than 85 percent of their income from their members to qualify to be exempt from federal income tax. However, an unintended consequence of the new tax law could cause a co-op to lose that tax-exempt status. America’s Electric Cooperatives strongly support H.R. 2147 and S. 1032, Revitalizing Underdeveloped Rural Areas and Lands Act (RURAL) Act. This legislation would resolve this issue and protect electric cooperatives’ tax-exempt status when they receive local, state or federal government grants.
Take action by urging your Members of Congress to support the RURAL Act and to protect the tax status of electric cooperatives.
Have your Senators and Representative cosponsored RURAL Act? Click here for cosponsors S.1032 and H.R.2147.