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S 454 99th Congress Senate Taxation Agriculture and Rural Affairs Conservation of natural resources Depreciation and amortization Environmental Protection Income tax Investment tax credit Irrigation Soil conservation Tax credits Tax deductions Water and Water Resources Development Water conservation Water supply

A bill to amend the Internal Revenue Code of 1954 to provide a 20-percent investment tax credit for certain soil or water conservation expenditures.

Introduced: February 7, 1985 Introduced by: Grassley, Chuck Republican · Iowa See on congress.gov
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This bill died when the 99th Congress ended
It never became law before the 99th Congress (1985–1986) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 14, 1985
Committee on Finance requested executive comment from OMB, Treasury Department.
Feb 7, 1985
Read twice and referred to the Committee on Finance.
Feb 7, 1985
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to provide an additional ten percent investment tax credit for expenditures for soil or water conservation property.

Defines "soil or water conservation property" as certain irrigation equipment (the use of which is certified by the Soil Conservation Service) or the portion of the basis of qualified land which is attributable to specified conservation improvements made by the taxpayer. Treats a taxpayer who has paid or incurred an assessment with respect to property used by a soil or water conservation or drainage district as having acquired a portion of such property.

Provides that soil or water conservation property shall cease to be qualified for the investment tax credit provided by this Act if the taxpayer discontinues the business of farming within five years after the date on which the property was placed in service.

Provides that the amount of the deduction allowed under the accelerated cost recovery system for irrigation property qualified under this Act shall be determined according to a straight-line method of depreciation.

What's happening now February 14, 1985

Committee on Finance requested executive comment from OMB, Treasury Department.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 454: A bill to amend the Internal Revenue Code of 1954 to provide a 20-percent investment tax credit for certain soil or water conservation expenditures.. 99th Congress. Open America. https://openamerica.io/bill/99-S-454/
MLA
"S. 454: A bill to amend the Internal Revenue Code of 1954 to provide a 20-percent investment tax credit for certain soil or water conservation expenditures.." 99th Congress, 2026, Open America, https://openamerica.io/bill/99-S-454/.
Bluebook (legal)
S. 454, 99th Cong. (2026), https://openamerica.io/bill/99-S-454/.
Markdown link
[S. 454: A bill to amend the Internal Revenue Code of 1954 to provide a 20-percent investment tax credit for certain soil or water conservation expenditures.](https://openamerica.io/bill/99-S-454/)
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