S.3650 - Ditch and Irrigation Company Tax Reform Act

A bill to amend the Internal Revenue Code of 1986 to facilitate water leasing and water transfers to promote conservation and efficiency. view all titles (2)

All Bill Titles

  • Short: Ditch and Irrigation Company Tax Reform Act as introduced.
  • Official: A bill to amend the Internal Revenue Code of 1986 to facilitate water leasing and water transfers to promote conservation and efficiency. as introduced.

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Introduced
 
Senate
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House
Passes
 
President
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11/29/12
 
 
 
 
 
 
 

Official Summary

Ditch and Irrigation Company Tax Reform Act - 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. Requires that such income be used

Official Summary

Ditch and Irrigation Company Tax Reform Act - 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. Requires that such income be used to pay the operational and maintenance expenses of such a company.

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