[Congressional Record Volume 162, Number 20 (Wednesday, February 3, 2016)]
[Senate]
[Page S615]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3254. Mrs. FEINSTEIN submitted an amendment intended to be 
proposed to amendment SA 2953 proposed by Ms. Murkowski to the bill S. 
2012, to provide for the modernization of the energy policy of the 
United States, and for other purposes; which was ordered to lie on the 
table; as follows:

       At the appropriate place, insert the following:

     SEC. ____. MODIFICATIONS TO INCOME EXCLUSION FOR CONSERVATION 
                   SUBSIDIES.

       (a) In General.--Subsection (a) of section 136 of the 
     Internal Revenue Code of 1986 is amended--
       (1) by striking ``any subsidy provided'' and inserting 
     ``any subsidy--
       ``(1) provided'',
       (2) by striking the period at the end and inserting ``, 
     or'', and
       (3) by adding at the end the following new paragraph:
       ``(2) provided (directly or indirectly) by a public utility 
     to a customer, or by a State or local government to a 
     resident of such State or locality, for the purchase or 
     installation of any water conservation measure or storm water 
     management measure.''.
       (b) Conforming Amendments.--
       (1) Definition of water conservation measure and storm 
     water management measure.--Section 136(c) of the Internal 
     Revenue Code of 1986 is amended--
       (A) by striking ``Energy Conservation Measure'' in the 
     heading thereof and inserting ``Definitions'',
       (B) by striking ``In general'' in the heading of paragraph 
     (1) and inserting ``Energy conservation measure'', and
       (C) by redesignating paragraph (2) as paragraph (4) and by 
     inserting after paragraph (1) the following:
       ``(2) Water conservation measure.--For purposes of this 
     section, the term `water conservation measure' means any 
     installation or modification primarily designed to reduce 
     consumption of water or to improve the management of water 
     demand with respect to a dwelling unit.
       ``(3) Storm water management measure.--For purposes of this 
     section, the term `storm water management measure' means any 
     installation or modification of property primarily designed 
     to manage amounts of storm water with respect to a dwelling 
     unit.''.
       (2) Definition of public utility.--Subparagraph (B) of 
     section 136(c)(4) of such Code (as redesignated by paragraph 
     (1)(C)) is amended by striking ``or natural gas'' and 
     inserting ``, natural gas, or water or the provision of storm 
     water management''.
       (3) Clerical amendments.--
       (A) The heading of section 136 of such Code is amended--
       (i) by inserting ``and water'' after ``energy'', and
       (ii) by striking ``provided by public utilities''.
       (B) The item relating to section 136 in the table of 
     sections of part III of subchapter B of chapter 1 of such 
     Code is amended--
       (i) by inserting ``and water'' after ``energy'', and
       (ii) by striking ``provided by public utilities''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to amounts received after January 1, 2015.
                                 ______