Water Conservation Rebate Tax Parity Act

Tax Exclusions for Water Efficiency: The bill expands the exclusion for subsidies provided by a public utility or a State or local government for water conservation or efficiency measures. This is positive as it applies to the purchase or installation of measures intended to reduce water consumption or improve water demand management for dwelling units (Section 2(a)(2) and Section 2(b)(1)(A)).

Tax Exclusions for Storm Water Management: The bill includes an exclusion for subsidies provided by a storm water management provider or a State or local government for storm water management measures. This is positive for those installing or modifying property to reduce or manage storm water amounts or to prevent flooding (Section 2(a)(3) and Section 2(b)(1)(B)).

Tax Exclusions for Wastewater Management: The bill adds an exclusion for subsidies provided by a State or local government for wastewater management measures. This is a benefit for residents installing or modifying property to manage wastewater, including septic tanks and cesspools, at their principal residence (Section 2(a)(4) and Section 2(b)(1)(C)).