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United States · Bill · S

S. 1090 (115th)

Water and Agriculture Tax Reform Act of 2017

referredUnited States· United States Congress· EN

Introduced

10 May 2017

Last action

10 May 2017 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Mike Crapo, Michael Bennet, James Risch, Sen. Gardner, Cory [R-CO], Sen. Enzi, Michael B. [R-WY], Sen. Tester, Jon [D-MT], Rep. Roberts, Pat [R-KS-1]

Subjects

Agriculture, Taxation

Source updated

5 December 2025

Agriculture · Taxation

Official sourceDownload fileView documentsShare

Summary

Water and Agriculture Tax Reform Act of 201 7 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, an organization's qualification as a 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.

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Timeline

  1. 10 May 2017

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 10 May 2017

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Sponsors

Related records

Sources

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