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HR 3452 110th Congress House Taxation Bonds Capital investments Environmental Protection Finance and Financial Sector Groundwater Income tax Infrastructure Saline waters Tax credits Waste water treatment Water conservation Water pollution control Water purification Water supply Water treatment plants

To amend the Internal Revenue Code of 1986 to allow a credit with respect to clean renewable water supply bonds.

Introduced: August 4, 2007 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 4, 2007
Referred to the House Committee on Ways and Means.
Aug 4, 2007
Introduced in House
 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow holders of clean renewable water supply bonds a tax credit of 25% of the annual credit amount as determined by the Secretary of the Treasury. Defines "clean renewable water supply bond" as any bond issued by a governmental body or an entity qualified to issue tax-exempt bonds that is used for capital expenditures for projects involving a qualified desalination facility, a recycled water facility, or a groundwater remediation facility.

Sets forth rules for maturity limitations, arbitrage, and expenditures, including a requirement that 95% of the proceeds of a bond issue be spent on one or more clean renewable water supply projects within five years from the date of a bond issuance.

What's happening now August 4, 2007

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 1 Republican 3