HB8280: SEPTIC Act Septic Exclusion for Property owners through Tax-free Infrastructure Compensation Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for certain wastewater management subsidies.
Plain-language summary
The SEPTIC Act would change federal tax law to exclude certain wastewater management subsidies from a person's taxable income. Wastewater management typically refers to systems like septic tanks that treat household sewage. Currently, most government subsidies count as income and must be reported on taxes. This bill would allow property owners who receive money to help pay for septic systems or similar infrastructure to exclude that money from their taxable income. The bill is currently in the introduction stage and has not yet been assigned to a .
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HB8280: SEPTIC Act Septic Exclusion for Property owners through Tax-free Infrastructure…
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Sponsors
Thomas Suozzi
Primary SponsorCo-sponsors (3)
Gus Bilirakis
Aaron Bean
Greg Steube