A bill to amend the Internal Revenue Code of 1954 to allow the deduction of taxes assessed by special districts for debt retirement and for capital construction in connection with the construction of sewage treatment works in the same manner as the deduction allowed for real property taxes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow an income tax deduction for that portion of real property taxes assessed against local benefits of a kind tending to increase the value of the property assessed which are properly allocable to the construction, maintenance, or finance costs of sewage treatment plants.…