Financing Lead Out of Water Act of 2023

3/14/2024, 1:10 PM

Financing Lead Out of Water Act of 2023

This bill allows the issuance of tax-exempt private activity bonds to finance the replacement of any privately-owned portion of a lead service line in a public water system. Specifically, the bill provides that the use of proceeds from such bonds for replacement of a lead service line does not constitute private business use.

Congress
118
Number
S - 726
Introduced on
2023-03-09
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

3/9/2023
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Financing Lead Out of Water Act of 2023

This bill allows the issuance of tax-exempt private activity bonds to finance the replacement of any privately-owned portion of a lead service line in a public water system. Specifically, the bill provides that the use of proceeds from such bonds for replacement of a lead service line does not constitute private business use.

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to modify the private business use requirements for bonds issued for lead service line replacement projects.
Policy Areas
Taxation

Comments

Related

Bill Update Alert:  Financing Lead Out of Water Act

Recent Activity

Latest Summary3/24/2023

Financing Lead Out of Water Act of 2023

This bill allows the issuance of tax-exempt private activity bonds to finance the replacement of any privately-owned portion of a lead service line in a public water system. Specific...

Latest Action3/9/2023
Read twice and referred to the Committee on Finance.