[Congressional Record Volume 162, Number 53 (Thursday, April 7, 2016)]
[Senate]
[Pages S1830-S1831]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 3552. Mrs. FEINSTEIN (for herself, Mr. Bennet, and Mrs. Boxer) 
submitted an amendment intended to be proposed to amendment SA 3464 
submitted by Mr. Thune (for himself and

[[Page S1831]]

Mr. Nelson) to the bill H.R. 636, to amend the Internal Revenue Code of 
1986 to permanently extend increased expensing limitations, 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 a 
     comma, and
       (3) by adding at the end the following new paragraphs:
       ``(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
       ``(3) provided (directly or indirectly) by a storm water 
     management provider 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 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 reduce or manage amounts of storm water with respect to a 
     dwelling unit.''.
       (2) Definition of public utility.--Section 136(c)(4) of 
     such Code (as redesignated by paragraph (1)(C)) is amended by 
     striking subparagraph (B) and inserting the following:
       ``(B) Public utility.--The term `public utility' means a 
     person engaged in the sale of electricity, natural gas, or 
     water to residential, commercial, or industrial customers for 
     use by such customers.
       ``(C) Storm water management provider.--The term `storm 
     water management provider' means a person engaged in the 
     provision of storm water management measures to the public.
       ``(D) Person.--For purposes of subparagraphs (B) and (C), 
     the term `person' includes the Federal Government, a State or 
     local government or any political subdivision thereof, or any 
     instrumentality of any of the foregoing.''.
       (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.
       (d) No Inference.--Nothing in this Act or the amendments 
     made by this Act shall be construed to create any inference 
     with respect to the proper tax treatment of any subsidy 
     received directly or indirectly from a public utility, a 
     storm water management provider, or a State or local 
     government for any water conservation measure or storm water 
     management measure before January 1, 2015.
                                 ______