The SEPTIC Act amends the Internal Revenue Code to exclude from gross income certain wastewater management subsidies provided by state or local.
The SEPTIC Act modifies the Internal Revenue Code to exclude from gross income subsidies provided by state or local governments for the purchase or installation of wastewater management measures related to a taxpayer's residence. These measures include installations or modifications of property designed to manage wastewater, such as septic tanks and cesspools. The exclusion applies to amounts received after the enactment of the Act.
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