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Bill115th CongressFiled Jan 13, 2017Taxation
H.R. 519

Water and Agriculture Tax Reform Act of 2018

Bill journey · stage 2 of 5

Under committee review

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What it doesSummary reported to house with amendment(s) (Jul 23, 2018)

Water and Agriculture Tax Reform Act of 2018

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, 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.

What just happenedJul 25, 2018

Received in the Senate and Read twice and referred to the Committee on Finance.

Who’s behind it

Rep. Buck, Ken [R-CO-4](R-CO)Sponsor
15 cosponsors4 D11 R
Read on Congress.gov
15cosponsors2committees15actions1related bills8subjects
  1. Jul 25, 2018IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Finance.

    Finance Committee
  2. Jul 24, 2018FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  3. Jul 24, 2018FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7110-7111)

  4. Jul 24, 2018Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7110-7111)

  5. Jul 24, 2018FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 519.

  6. Jul 24, 2018FloorH30000

    Considered under suspension of the rules. (consideration: CR H7110-7112)

  7. Jul 24, 2018FloorH30300

    Mr. Roskam moved to suspend the rules and pass the bill, as amended.

  8. Jul 23, 2018CalendarsH12410

    Placed on the Union Calendar, Calendar No. 664.

  9. Jul 23, 2018CommitteeH12200

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-857.

    Ways and Means Committee
  10. Jul 23, 2018Committee5000

    Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-857.

    Ways and Means Committee
  11. Jun 21, 2018Committee

    Ordered to be Reported by Voice Vote.

    Ways and Means Committee
  12. Jun 21, 2018Committee

    Committee Consideration and Mark-up Session Held.

    Ways and Means Committee
  13. Jan 13, 2017IntroReferralH11100

    Referred to the House Committee on Ways and Means.

    Ways and Means Committee
  14. Jan 13, 2017IntroReferralIntro-H

    Introduced in House

  15. Jan 13, 2017IntroReferral1000

    Introduced in House

Reported to House with amendment(s)Jul 23, 201817

Water and Agriculture Tax Reform Act of 2018

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, 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.

Introduced in HouseJan 13, 2017

Water and Agriculture Tax Reform Act of 2017

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, 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.

Water and Agriculture Tax Reform Act of 2018 — Informed