Bill > HR8682

This bill amends the Internal Revenue Code to expand the exclusion for certain conservation subsidies to include subsidies for water conservation or efficiency measures, storm water management measures, and wastewater management measures. Specifically, it allows taxpayers to exclude from their income any subsidies provided by public utilities, storm water management providers, or state/local governments for the purchase or installation of such measures, as long as the measures are related to the taxpayer's principal residence. The bill also defines key terms like "water conservation or efficiency measure," "storm water management measure," and "wastewater management measure." The amendments made by this bill will apply to amounts received after December 31, 2021.