Water Conservation Rebate Tax Parity Act

Right now, if a public utility gives you money back or a discount to help you save electricity or natural gas at home, you don't have to pay federal income tax on that money. This bill would extend that same tax break to rebates or subsidies you receive for installing water-saving measures, stormwater management systems, or wastewater systems like septic tanks. These rebates could come from public utilities, stormwater management companies, or state and local governments, and they would apply to measures installed after 2021. Essentially, if you got money to help conserve water or deal with stormwater or wastewater at your home, this bill says you wouldn't owe federal taxes on that money.

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