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Bill114th CongressFiled Dec 10, 2015Taxation
H.R. 4220

Water and Agriculture Tax Reform Act of 2016

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to house with amendment(s) (Dec 8, 2016)

Water and Agriculture Tax Reform Act of 2016

(Sec. 2) 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.

What just happenedDec 8, 2016

Placed on the Union Calendar, Calendar No. 675.

Who’s behind it

Rep. Buck, Ken [R-CO-4](R-CO)Sponsor
9 cosponsors1 D8 R
Read on Congress.gov
9cosponsors1committees8actions1related bills8subjects
  1. Dec 8, 2016CalendarsH12410

    Placed on the Union Calendar, Calendar No. 675.

  2. Dec 8, 2016CommitteeH12200

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-862.

    Ways and Means Committee
  3. Dec 8, 2016Committee5000

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-862.

    Ways and Means Committee
  4. Sep 21, 2016Committee

    Ordered to be Reported (Amended) by Voice Vote.

    Ways and Means Committee
  5. Sep 21, 2016Committee

    Committee Consideration and Mark-up Session Held.

    Ways and Means Committee
  6. Dec 10, 2015IntroReferralH11100

    Referred to the House Committee on Ways and Means.

    Ways and Means Committee
  7. Dec 10, 2015IntroReferralIntro-H

    Introduced in House

  8. Dec 10, 2015IntroReferral1000

    Introduced in House

Reported to House with amendment(s)Dec 8, 201617

Water and Agriculture Tax Reform Act of 2016

(Sec. 2) 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.

Introduced in HouseDec 10, 2015

Water and Agriculture Tax Reform Act of 2015

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.

Water and Agriculture Tax Reform Act of 2016 — Informed