Expands tax exclusion for subsidies related to water conservation, storm water management, and wastewater management.
The Water Conservation Rebate Tax Parity Act amends the Internal Revenue Code to expand the exclusion for certain conservation subsidies. This includes subsidies for water conservation or efficiency measures, storm water management measures, and wastewater management measures. These subsidies can be provided by public utilities, storm water management providers, or state and local governments to customers or residents for the purchase or installation of these measures. The changes apply to amounts received after December 31, 2021.
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