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US HR2313

US HR2313
Water Conservation Rebate Tax Parity Act


summary

Introduced
04/12/2019
In Committee
04/12/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To amend the Internal Revenue Code of 1986 to expand the exclusion for certain conservation subsidies to include subsidies for water conservation or efficiency measures and storm water management measures. This bill expands the tax exclusion for energy conservation subsidies provided by public utilities to include certain subsidies for water conservation or efficiency measures and storm water management measures. The bill excludes from gross income subsidies provided (directly or indirectly) (1) by a public utility to a customer, or by a state or local government to a resident of such state or locality, for the purchase or installation of any water conservation or efficiency measure; and (2) by a storm water management provider to a customer, or by a state or local government to a resident of such state or locality, for the purchase or installation of any storm water management measure.

AI Summary

This bill expands the tax exclusion for energy conservation subsidies provided by public utilities to include certain subsidies for water conservation or efficiency measures and storm water management measures. Specifically, it excludes from gross income subsidies provided (directly or indirectly) by a public utility, a storm water management provider, or a state or local government for the purchase or installation of water conservation or efficiency measures or storm water management measures. The bill also defines the key terms "water conservation or efficiency measure" and "storm water management measure" for the purposes of this tax exclusion. The amendments made by this bill will apply to amounts received after December 31, 2019, and the bill specifies that it does not create any inference about the proper tax treatment of such subsidies before that date.

Committee Categories

Budget and Finance

Sponsors (22)

Last Action

Referred to the House Committee on Ways and Means. (on 04/12/2019)

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