To amend the Internal Revenue Code of 1986 to facilitate water leasing and water transfers to promote conservation and efficiency.
Water and Agriculture Technology Economic Revitalization Act of 2012 - Amends the Internal Revenue Code to permit tax-exempt mutual ditch or irrigation companies to earn income from dispositions of certain real property and stock interests without affecting their tax-exempt status. Requires that such income be used to pay the costs of operations, maintenance, and capital improvements of such a company.
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7219-7220)
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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