Tax Exemption for Water Conservation and Stormwater Management Rebates.
This law amends tax rules to exclude subsidies and rebates received from utilities or local governments for installing water-saving devices or stormwater/wastewater management systems from taxable income. This means if you get money back for buying an efficient toilet or a rainwater harvesting system, you will not have to pay income tax on that rebate. These changes apply retroactively, covering amounts received starting January 1, 2022.
Key points
Rebates for purchasing and installing water conservation measures (like efficient irrigation or low-flow fixtures) are no longer counted as taxable income.
Subsidies for stormwater and wastewater management systems (including septic tanks) are also tax-free, provided they relate to your principal residence.
The change lowers the true cost of investing in water efficiency by eliminating the tax burden on the received rebates.
Expired
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