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Bill > S4664
US S4664
US S4664A bill to amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for certain waste water management subsidies.
summary
Introduced
09/23/2020
09/23/2020
In Committee
09/23/2020
09/23/2020
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for certain waste water management subsidies. This bill excludes from goss income, for income tax purposes, a taxpayer subsidy provided by a state or local government to a resident for the purchase or installation of any wastewater management measure intended solely for the taxpayer's principal residence.
AI Summary
This bill amends the Internal Revenue Code of 1986 to provide an exclusion from gross income for certain wastewater management subsidies. Specifically, the bill excludes from gross income, for income tax purposes, a taxpayer subsidy provided by a state or local government to a resident for the purchase or installation of any wastewater management measure intended solely for the taxpayer's principal residence. The bill defines "wastewater management measure" as any installation or modification of property primarily designed to manage wastewater, including septic tanks and cesspools. The amendments made by this bill would apply to amounts received after December 31, 2018.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Read twice and referred to the Committee on Finance. (on 09/23/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/4664/all-info |
| BillText | https://www.congress.gov/116/bills/s4664/BILLS-116s4664is.pdf |
| Bill | https://www.congress.gov/116/bills/s4664/BILLS-116s4664is.pdf.pdf |
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