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S 1910 110th Congress Senate Taxation Bonds Economics and Public Finance Environmental Protection Federal aid to water pollution control Finance and Financial Sector Income tax Potable water Revolving funds Tax exemption Water Resources Development

A bill to amend the Internal Revenue Code of 1986 to provide that amounts derived from Federal grants and State matching funds in connection with revolving funds established in accordance with the…

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A bill to amend the Internal Revenue Code of 1986 to provide that amounts derived from Federal grants and State matching funds in connection with revolving funds established in accordance with the Federal Water Pollution Control Act and the Safe Drinking Water Act will not be treated as proceeds or replacement proceeds for purposes of section 148 of such Code.

Introduced: August 1, 2007 Introduced by: Reed, Jack Democratic · Rhode Island See on congress.gov
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 1, 2007
Read twice and referred to the Committee on Finance.
Aug 1, 2007
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to exclude any amount derived from an investment of federal grant or related state matching amounts made in connection with any revolving fund established under the Federal Water Pollution Control Act or the Safe Drinking Water Act from a determination of whether a bond is an arbitrage bond (thus allowing states to retain arbitrage earnings from state revolving loan funds).

What's happening now August 1, 2007

Read twice and referred to the Committee on Finance.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Whitehouse, Sheldon
Rhode Island · Aug 2, 2007
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APA
U.S. Congress. (2026). S. 1910: A bill to amend the Internal Revenue Code of 1986 to provide that amounts derived from Federal grants and State matching funds in connection with revolving funds established in accordance with the Federal Water Pollution Control Act and the Safe Drinking Water Act will not be treated as proceeds or replacement proceeds for purposes of section 148 of such Code.. 110th Congress. Open America. https://openamerica.io/bill/110-S-1910/
MLA
"S. 1910: A bill to amend the Internal Revenue Code of 1986 to provide that amounts derived from Federal grants and State matching funds in connection with revolving funds established in accordance with the Federal Water Pollution Control Act and the Safe Drinking Water Act will not be treated as proceeds or replacement proceeds for purposes of section 148 of such Code.." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-1910/.
Bluebook (legal)
S. 1910, 110th Cong. (2026), https://openamerica.io/bill/110-S-1910/.
Markdown link
[S. 1910: A bill to amend the Internal Revenue Code of 1986 to provide that amounts derived from Federal grants and State matching funds in connection with revolving funds established in accordance with the Federal Water Pollution Control Act and the Safe Drinking Water Act will not be treated as proceeds or replacement proceeds for purposes of section 148 of such Code.](https://openamerica.io/bill/110-S-1910/)
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