HR 8280
SEPTIC Act
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Bill overview
This bill, the SEPTIC Act, aims to allow homeowners to exclude certain wastewater management subsidies from their income taxes. Specifically, it expands the existing tax exclusion for energy conservation measures to include subsidies received for installing or purchasing septic tanks and other wastewater management systems on a homeowner’s primary residence. The bill clarifies the definition of ‘wastewater management measure’ and adjusts the relevant sections of the Internal Revenue Code to reflect these changes. This would provide a tax benefit to homeowners who invest in these types of systems.
Key provisions
- Expands the existing tax exclusion to include wastewater management subsidies.
- Specifically covers subsidies for septic tanks and cesspools.
- The exclusion applies to subsidies provided by state or local governments.
- The exclusion is limited to subsidies for a taxpayer’s residence.
- Clarifies the definition of ‘wastewater management measure’.
Who is affected
- Homeowners
- Taxpayers
- State and Local Governments
- Septic Tank Installers
Notable changes
- Modifies section 136 of the Internal Revenue Code to include wastewater management subsidies.
- Redefines ‘wastewater management measure’ to include septic tanks and cesspools.
Sponsors
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Primary sponsor
Cosponsors
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119th CONGRESS — 2d Session
H. R. 8280
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for certain wastewater management subsidies.
This Act may be cited as the Septic Exclusion for Property owners through Tax-free Infrastructure Compensation Act SEPTIC Act
or the
.
Section 136(a) of the Internal Revenue Code of 1986 is amended—
by striking any subsidy provided
and inserting
any subsidy—
provided
by striking the period at the end and inserting , or
, and
by adding at the end the following new paragraph:
provided (directly or indirectly) by a State or local government to a resident of such State or locality for the purchase or installation of any wastewater management measure, but only if such measure is with respect to the taxpayer’s residence.
Section 136(c) of such Code is amended—
by striking Energy conservation measure
in the heading thereof and inserting Definitions
,
by striking In general
in the heading of paragraph (1) and inserting Energy conservation measure
, and
by redesignating paragraph (2) as paragraph (3) and by inserting after paragraph (1) the following:
For purposes of this section, the term wastewater management measure
means any installation or modification of property primarily designed to manage wastewater (including septic tanks and cesspools) with respect to one or more dwelling units.
The heading for section 136 of such Code is amended—
by inserting and wastewater
after energy
, and
by striking provided by public utilities
.
The item relating to section 136 in the table of sections of part III of subchapter B of chapter 1 of such Code is amended—
by inserting and wastewater
after energy
, and
by striking provided by public utilities
.
The amendments made by this section shall apply to amounts received after the date of the enactment of this Act, in taxable years ending after such date.