Water Conservation Rebate Tax Parity Act

Referred to the House Committee on Ways and Means.

Bill 119 HR 1871 aims to make changes to the Internal Revenue Code of 1986 by expanding the exclusion for certain conservation subsidies. Specifically, the bill seeks to include subsidies for water conservation or efficiency measures, storm water management measures, and wastewater management measures in the exclusion.

This means that individuals or organizations who receive subsidies for these types of conservation efforts would not have to pay taxes on the financial assistance they receive. This is intended to incentivize and support efforts to conserve water, manage storm water, and improve wastewater management.

By expanding the exclusion for these types of subsidies, the bill aims to encourage more individuals and organizations to invest in and implement water conservation and management measures. This could have positive impacts on the environment, public health, and overall sustainability efforts. Overall, Bill 119 HR 1871 seeks to promote and support conservation efforts related to water, storm water, and wastewater management by providing tax incentives for those who receive subsidies for these purposes.