A bill to amend the Internal Revenue Code of 1986 to facilitate water leasing and water transfers to promote conservation and efficiency.
Ditch and Irrigation Company Tax Reform Act - 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 operational and maintenance expenses of such a company.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S7219)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7219-7220)
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