Water and Agriculture Tax Reform Act of 2021
Official title: To amend the Internal Revenue Code of 1986 to facilitate water leasing and water transfers to promote conservation and efficiency.
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Referred to the House Committee on Ways and Means.
Water and Agriculture Tax Reform Act of 2021
This bill permits tax-exempt mutual ditch or irrigation companies to earn income from dispositions of certain 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.
- Introduced in House Formatted Text PDF Formatted XML
Cite this page
U.S. Congress. (2026). H.R. 4553: Water and Agriculture Tax Reform Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-HR-4553/
"H.R. 4553: Water and Agriculture Tax Reform Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-4553/.
H.R. 4553, 117th Cong. (2026), https://openamerica.io/bill/117-HR-4553/.
[H.R. 4553: Water and Agriculture Tax Reform Act of 2021](https://openamerica.io/bill/117-HR-4553/)