US Congress Senate Bill 361 (Prior Session Legislation)

---

Spectrum: Slight Partisan Bill (Republican 5-2)
Status: Introduced on February 6 2019 - 25% progression, died in committee
Action: 2019-02-06 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Permits tax-exempt mutual ditch or irrigation companies to earn income from dispositions of certain property and stock interests without affecting their tax-exempt status, but requires that such income be used to pay the costs of operations, maintenance, and capital improvements of such a company. The bill also establishes a rule regarding the organizational governance of mutual ditch or irrigation companies. Where state law provides that such a company may be organized in a manner that permits voting on a basis that is pro rata to share ownership on corporate governance matters, the tax-exempt status of the mutual ditch or irrigation company must be determined without taking into account whether its member shareholders have one vote on corporate governance matters per share held in the corporation.

Water and Agriculture Tax Reform Act of 2019

Sen. Cory Gardner [R-CO]	Sen. Mike Crapo [R-ID]	Sen. Pat Roberts [R-KS]	Sen. Jon Tester [D-MT]
Sen. Michael Bennet [D-CO]	Sen. James Risch [R-ID]	Sen. Michael Enzi [R-WY]

Date	Chamber	Action
2019-02-06	Senate	Read twice and referred to the Committee on Finance.

HB807 (Related) 2019-01-28 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/senate-bill/361/all-info
Text	https://www.congress.gov/116/bills/s361/BILLS-116s361is.pdf