H.R. 8280: Septic Exclusion for Property owners through Tax-free Infrastructure Compensation Act
This bill, known as the "Septic Exclusion for Property Owners through Tax-Free Infrastructure Compensation Act," aims to amend the Internal Revenue Code regarding subsidies related to wastewater management. Here are the key points of the bill:
Modifications to Income Exclusion
The bill proposes changes to Section 136 of the Internal Revenue Code. Specifically, it intends to:
- Remove the restriction that previous subsidies must be provided by public utilities.
- Allow for subsidies that are provided, either directly or indirectly, by state or local governments.
- Ensure these subsidies are used specifically for the purchase or installation of wastewater management measures at the taxpayer’s residence.
Definition of Wastewater Management Measure
The bill introduces a definition for "wastewater management measure." This term includes:
- Any installation or modification of property that is primarily designed to manage wastewater.
- Specifically mentions components such as septic tanks and cesspools that serve one or more dwelling units.
Clerical Amendments
Effective Date
The changes outlined in the bill will apply to amounts received after its enactment, affecting taxable years that end after the bill becomes law.
Relevant Companies
- None found
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
4 bill sponsors
Actions
2 actions
| Date | Action |
|---|---|
| Apr. 14, 2026 | Introduced in House |
| Apr. 14, 2026 | Referred to the House Committee on Ways and Means. |
Corporate Lobbying
0 companies lobbying
None found.
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Potentially Relevant Congressional Stock Trades
No relevant congressional stock trades found.