H.R. 3452 · 110th Congress
To amend the Internal Revenue Code of 1986 to allow a credit with respect to clean renewable water supply…
Full title
To amend the Internal Revenue Code of 1986 to allow a credit with respect to clean renewable water supply bonds.
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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BecerraSponsor25 cosponsors · 10 D, 15 R
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Brown-Waite
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Costa
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Diaz-Balart
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Doolittle
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Diaz-Balart
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Kagen
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Putnam
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Porter
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Ros-Lehtinen
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Weldon
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Gonzalez
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Buchanan
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Mica
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Roybal-Allard
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Calvert
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Miller
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Hastings
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Miller
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Meek
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Wynn
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Brown
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Richardson
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Bono Mack
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Gallegly
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Miller9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to allow holders of clean renewable water supply bonds a tax credit of 25% of the annual credit amount as determined by the Secretary of the Treasury.
What it does: CRS summary · Introduced in House · Aug 4, 2007
Amends the Internal Revenue Code to allow holders of clean renewable water supply bonds a tax credit of 25% of the annual credit amount as determined by the Secretary of the Treasury. Defines "clean renewable water supply bond" as any bond issued by a governmental body or an entity qualified to issue tax-exempt bonds that is used for capital expenditures for projects involving a qualified desalination facility, a recycled water facility, or a groundwater remediation facility.
Sets forth rules for maturity limitations, arbitrage, and expenditures, including a requirement that 95% of the proceeds of a bond issue be spent on one or more clean renewable water supply projects within five years from the date of a bond issuance.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to allow a credit with respect to clean renewable water supply bonds.
Latest action (Aug 4, 2007): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Aug 4, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.