3.0.0 4220 2023-01-11T13:32:28Z 2023-01-11T13:32:28Z House HR 2015-12-10 114 [Congressional Record Volume 161, Number 179 (Thursday, December 10, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BUCK:H.R. 4220.Congress has the power to enact this legislation pursuantto the following:Clause 1, Section 8 of Article I of the United StatesConstitution:``The Congress shall have Power to lay and collect Taxes,Duties, Imposts, and Excises, to pay the Debts, and providefor the common Defense and General Welfare of the UnitedStates; but all Duties and Imposts and Excises shall beuniform throughout the United States.''[Page H9271]]]> hswm00 Ways and Means Committee House Standing Reported by 2016-12-08T22:37:55Z Markup by 2016-09-21T13:45:24Z Referred to 2015-12-10T15:02:30Z H. Rept. 114-862 Water and Agriculture Tax Reform Act of 2015 114 384 S 2015-02-05 Read twice and referred to the Committee on Finance. Related bill CRS 2016-12-08 Placed on the Union Calendar, Calendar No. 675. Calendars H12410 2 House floor actions U00675 2016-12-08 Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-862. Committee H12200 2 House floor actions hswm00 Ways and Means Committee 2016-12-08 Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-862. Committee 5000 9 Library of Congress hswm00 Ways and Means Committee 2016-09-21 hswm00 Ways and Means Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2016-09-21 hswm00 Ways and Means Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2015-12-10 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2015-12-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-12-10 Introduced in House IntroReferral 1000 9 Library of Congress B001297 Rep. Buck, Ken [R-CO-4] Ken Buck R CO 4 N G000565 Rep. Gosar, Paul A. [R-AZ-4] Paul Gosar R AZ A. 4 2015-12-10 True B001250 Rep. Bishop, Rob [R-UT-1] Rob Bishop R UT 1 2015-12-10 True L000571 Rep. Lummis, Cynthia M. [R-WY-At Large] Cynthia Lummis R WY M. 0 2015-12-10 True L000584 Rep. Love, Mia B. [R-UT-4] Mia Love R UT B. 4 2015-12-10 True T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2015-12-10 True C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2016-02-11 False S001148 Rep. Simpson, Michael K. [R-ID-2] MICHAEL SIMPSON R ID K. 2 2016-11-14 False L000564 Rep. Lamborn, Doug [R-CO-5] Doug Lamborn R CO 5 2016-11-29 False P000598 Rep. Polis, Jared [D-CO-2] Jared Polis D CO 2 2016-12-05 False 2016-09-26T20:00:43Z H.R. 4220, Water and Agriculture Tax Reform Act of 2016 https://www.cbo.gov/publication/52052 As ordered reported by the House Committee on Ways and Means on September 21, 2016 Taxation Business investment and capital Corporate finance and management Farmland Financial services and investments Land transfers Securities Tax-exempt organizations Water use and supply Taxation 00 2015-12-10 Introduced in House 2016-02-11T16:45:39Z 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.

]]> 17 2016-12-08 Reported to House with amendment(s) 2016-12-15T14:59:20Z 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.

]]> Water and Agriculture Tax Reform Act of 2016 Display Title Water and Agriculture Tax Reform Act of 2016 Official Title as Introduced To amend the Internal Revenue Code of 1986 to facilitate water leasing and water transfers to promote conservation and efficiency. Introduced in House IH Short Titles as Introduced Water and Agriculture Tax Reform Act of 2015 Short Titles as Reported to House Water and Agriculture Tax Reform Act of 2016 H House Reported in House 2016-12-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4220rh/xml/BILLS-114hr4220rh.xml Introduced in House 2015-12-10T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4220ih/xml/BILLS-114hr4220ih.xml 2016-12-08 Placed on the Union Calendar, Calendar No. 675. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.