H.R. 519: Water and Agriculture Tax Reform Act of 2018
Legislation Details
115th Congress
To amend the Internal Revenue Code of 1986 to facilitate water leasing and water transfers to promote conservation and efficiency.
Sponsor: Rep. Ken Buck — R — CO
This bill 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, but requires that such income be used to pay the costs of operations, maintenance, and capital improvements of such a company. The bill also establishes a rule regarding the organizational governance of mutual ditch or irrigation ...
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