Water and Agriculture Tax Reform Act of 2019

Summary

Water and Agriculture Tax Reform Act of 201 9 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.

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Timeline

1. 6 February 2019

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 6 February 2019

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 6 February 2019 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 6 February 2019

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 6 February 2019

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 6 February 2019

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Gardner, Cory [R-CO] · R · Sponsor
• Sen. Crapo, Mike [R-ID] · R · Sponsor
• Sen. Roberts, Pat [R-KS] · R · Sponsor
• Sen. Tester, Jon [D-MT] · D · Sponsor
• Sen. Bennet, Michael F. [D-CO] · D · Sponsor
• Sen. Risch, James E. [R-ID] · R · Sponsor
• Sen. Enzi, Michael B. [R-WY] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → Water and Agriculture Tax Reform Act of 2019