HR 519 115th Congress House Taxation Business investment and capital Corporate finance and management Farmland Financial services and investments Land transfers Securities Tax-exempt organizations Water use and supply

Water and Agriculture Tax Reform Act of 2018

Introduced: January 13, 2017 See on congress.gov

Everywhere this bill has been 13 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 25, 2018

Received in the Senate and Read twice and referred to the Committee on Finance.

Jul 24, 2018

Motion to reconsider laid on the table Agreed to without objection.

Jul 24, 2018

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7110-7111)

Jul 24, 2018

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7110-7111)

Jul 24, 2018

DEBATE - The House proceeded with forty minutes of debate on H.R. 519.

Jul 24, 2018

Considered under suspension of the rules. (consideration: CR H7110-7112)

Jul 24, 2018

Mr. Roskam moved to suspend the rules and pass the bill, as amended.

Jul 23, 2018

Placed on the Union Calendar, Calendar No. 664.

Jul 23, 2018

Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-857.

Jun 21, 2018

Ordered to be Reported by Voice Vote.

Jun 21, 2018

Committee Consideration and Mark-up Session Held.

Jan 13, 2017

Referred to the House Committee on Ways and Means.

Jan 13, 2017

Introduced in House

Plain-English summary Congressional Research Service

Water and Agriculture Tax Reform Act of 2018

This bill amends the Internal Revenue Code to permit tax-exempt mutual ditch or irrigation companies to earn income from dispositions of certain real property and stock interests without affecting their tax-exempt status, but requires that such income be used to pay the costs of operations, maintenance, and capital improvements of such a company.

The bill also establishes a rule regarding the organizational governance of mutual ditch or irrigation companies. Where state law provides that such a company may be organized in a manner that permits voting on a basis that is pro rata to share ownership on corporate governance matters, the tax-exempt status of the mutual ditch or irrigation company must be determined without taking into account whether its member shareholders have one vote on corporate governance matters per share held in the corporation.

What's happening now July 25, 2018

Received in the Senate and Read twice and referred to the Committee on Finance.

Committees of jurisdiction 2