Expands the exclusion for certain conservation subsidies to include water conservation, storm water management, and wastewater management subsidies.
The Water Conservation Rebate Tax Parity Act amends the Internal Revenue Code to expand the exclusion for certain conservation subsidies to include 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 or local governments. The changes apply to subsidies received after December 31, 2021.
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