US HB807 | 2019-2020 | 116th Congress

Status

Spectrum: Slight Partisan Bill (Republican 9-3)
Status: Introduced on January 28 2019 - 25% progression
Action: 2019-01-28 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Water and Agriculture Tax Reform Act of 2019 This bill permits tax-exempt mutual ditch or irrigation companies to earn income from dispositions of certain 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.

Tracking Information

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

Water and Agriculture Tax Reform Act of 2019

Sponsors


History

DateChamberAction
2019-01-28HouseReferred to the House Committee on Ways and Means.
2019-01-28HouseIntroduced in House

Same As/Similar To

SB361 (Related) 2019-02-06 - Read twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

feedback