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Tax Reforms for Water Companies: Facilitating Water Transactions

This new act introduces tax changes for mutual ditch and irrigation companies. The goal is to make it easier for them to lease or transfer water rights, which could promote water conservation and efficiency. These changes may impact water availability and usage costs in agriculture.
Key points
Water and irrigation companies can sell or lease water rights without losing their tax-exempt status, encouraging water conservation.
Income from investments or property sales by these companies will not affect their tax status, provided it's not used for purposes other than operations, maintenance, and capital improvements.
The act accommodates specific voting rules for water companies, aiming to facilitate their operation in accordance with state law.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_2383
Sponsor: Sen. Crapo, Mike [R-ID]
Process start date: 2021-07-20
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Water and Agriculture Tax Reform Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2383.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-07-20.

What are the main provisions?

Key points include:

  • Water and irrigation companies can sell or lease water rights without losing their tax-exempt status, encouraging water conservation.
  • Income from investments or property sales by these companies will not affect their tax status, provided it's not used for purposes other than operations, maintenance, and capital improvements.
  • The act accommodates specific voting rules for water companies, aiming to facilitate their operation in accordance with state law.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Crapo, Mike [R-ID].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Agriculture Environment