HR 579 · 106th Congress · Taxation
Agricultural Water Conservation Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(1999-02-04)
Plain Language Summary
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Agricultural Water Conservation Act - Amends the Internal Revenue Code to allow a tax credit for water conservation system expenses, if used on farm land having an extreme drought or a water shortage and meeting other requirements. Limits the amount of the credit and allows unused credit to be carried to the succeeding taxable year. Reduces by the amount of the credit any basis increase that would otherwise occur.…
Summarized by Claude AI · Non-partisan · For informational purposes only