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U.S. Senator Mark Udall - Proposed Legislation |
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Thursday, 07 June 2012 |
 Senator Mark Udall of Colorado is planning to introduce a new bill “to amend the Internal Revenue Code of 1986 to facilitate water leasing and water transfers to promote conservation and efficiency” in 2012. Senator Udall is trying to help ditch and irrigation companies maintain their tax-exempt status while generating non-member income that is dedicated to operations and maintenance. This would lead to a continuation of more ditch and irrigation companies providing water for local agriculture. By excluding certain revenue streams from the 85-percent member income test, Congress can support local agriculture by helping ditch and irrigation companies stay in business, while at the same time providing for more efficient use of precious water resources. Furthermore, Congress can ensure that this income is reinvested in western water infrastructure and local agriculture, helping to create and preserve agricultural jobs.
Download a packet of a more detailed description of the new legislation here
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