Advancing Water Reuse Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
The Advancing Water Reuse Act creates a tax credit for investments in certain water reuse projects. Specifically, it allows taxpayers to claim a 30% credit on qualified investments made in projects like onsite recycling systems in industrial facilities, replacing freshwater with recycled water, or expanding municipal water recycling systems. The bill also addresses property transfers to utilities and sets a 10-year timeframe for the credit to apply.
Key provisions
- Provides a 30% tax credit for qualified investments in water reuse projects.
- Defines ‘qualified water reuse project’ as projects involving onsite recycling, freshwater replacement, or municipal system expansion.
- Specifies ‘qualified investment’ as the basis of property placed in service by the taxpayer.
- Includes rules for property transfers from individuals to utilities.
- Establishes a 10-year timeframe for the credit to apply to projects beginning after the bill’s enactment.
Who is affected
- Businesses (industrial, manufacturing, data centers, food processing)
- Municipalities (water providers)
- Utilities
- Taxpayers
- Investors in water reuse projects
Notable changes
- Creates a new tax credit (section 48F) for water reuse projects.
- Expands the definition of eligible property for depreciation.
Bill text
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Sponsors
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4 on record
Primary sponsor
Cosponsors
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