S 1239
A bill to amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for certain waste water management subsidies.
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Bill overview
This bill proposes to change the tax code to allow homeowners to exclude certain subsidies received from state or local governments for wastewater management improvements at their primary residence from their gross income. Specifically, it expands the existing tax exclusion for energy conservation measures to include wastewater management measures like septic tanks and cesspools. The changes clarify the definition of ‘wastewater management measure’ and establish an effective date of January 1, 2019, for the new exclusion. This aims to provide financial assistance to homeowners for upgrading their wastewater systems.
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