HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.
![handle is hein.congrecreports/crptxaboi0001 and id is 1 raw text is: AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
Op
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-857
WATER AND AGRICULTURE TAX REFORM ACT OF 2018
JULY 23, 2018.-Committed to the Committee of the Whole House on the State of
the Union and ordered to be printed
Mr. BRADY of Texas, from the Committee on Ways and Means,
submitted the following
REPORT
together with
ADDITIONAL VIEWS
[To accompany H.R. 519]
[Including cost estimate of the Congressional Budget Office]
The Committee on Ways and Means, to whom was referred the
bill (H.R. 519) to amend the Internal Revenue Code of 1986 to fa-
cilitate water leasing and water transfers to promote conservation
and efficiency, having considered the same, report favorably there-
on with an amendment and recommend that the bill as amended
do pass.
CONTENTS
Page
I. SUMMARY AND BACKGROUND ................................................................. 2
A . Purpose and Sum m ary ......................................................................... 2
B. Background and Need for Legislation ................................................ 3
C . L egislative H istory .............................................................................. 3
II. EXPLANATION OF THE BILL ............................................................... 3
A. Modify Tax Exemption Requirements for Mutual Ditch or Iriga-
tion C om p anies .................................................................................. . 3
III. VOTES OF TH E COM M ITTEE ..................................................................... 5
IV. BUDGET EFFECTS OF THE BILL ............................................................... 5
A. Committee Estimate of Budgetary Effects ......................................... 5
B. Statement Regarding New Budget Authority and Tax Expendi-
tures B udget A uthority ..................................................................... 6
C. Cost Estimate Prepared by the Congressional Budget Office ........... 6
V. OTHER MATTERS TO BE DISCUSSED UNDER THE RULES OF THE
H O U S E .................................................................................................... .... .. 7
A. Committee Oversight Findings and Recommendations ................... 7
B. Statement of General Performance Goals and Objectives ................ 7
C. Information Relating to Unfunded Mandates ................................... 7
D. Applicability of House Rule XXI 5(b) .................................................. 8
79-006](ViewImageLocal?handle=hein.congrecreports/crptxaboi0001&div=1&collection=&method=preview&ext=.png&size=3)