H.R. 519 · 115th Congress
Water and Agriculture Tax Reform Act of 2017
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Passed the House without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 115th Congress ended.
R
BuckSponsor15 cosponsors · 4 D, 11 R
R
Bishop
PG
R
Gosar
ML
R
Love
ST
R
Tipton
DL
R
Lamborn
DN
R
Newhouse
EP
D
Perlmutter
LC
R
Cheney
JP
D
Polis
MC
R
Coffman
DD
D
DeGette
GN
D
Napolitano
JC
R
Curtis
DS
R
Schweikert
PS
R
Sessions4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- House Introduced Jan 13, 2017
- House Passed Jul 24, 2018
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.
What it does: CRS summary · Reported to House with amendment(s) · Jul 23, 2018
Water and Agriculture Tax Reform Act of 2018
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 companies. Where state law provides that such a company may be organized in a manner that permits voting on a basis that is pro rata to share ownership on corporate governance matters, the tax-exempt status of the mutual ditch or irrigation company must be determined without taking into account whether its member shareholders have one vote on corporate governance matters per share held in the corporation.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Water and Agriculture Tax Reform Act of 2018
Latest action (Jul 25, 2018): Received in the Senate and Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: House · Introduced: Jan 13, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- House Introduced Jan 13, 2017
- House Passed Jul 24, 2018
No recorded floor vote found.