H.R.4921 - Water Conservation Incentive Act of 2004108th Congress (2003-2004)
|Sponsor:||Rep. Berkley, Shelley [D-NV-1] (Introduced 07/22/2004)|
|Committees:||House - Ways and Means|
|Latest Action:||07/22/2004 Referred to the House Committee on Ways and Means. (All Actions)|
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Summary: H.R.4921 — 108th Congress (2003-2004)All Bill Information (Except Text)
Introduced in House (07/22/2004)
Water Conservation Incentive Act of 2004 - Amends the Internal Revenue Code to allow a refundable tax credit for the cost of qualified water conservation property installed in a principal residence and which has a useful life of at least five years. Defines "qualified water conservation property" to include smart dual or multi program irrigation clocks, low-flow shower heads, ultra low-flush toilets, and high-efficiency clothes washing machines. Limits the amount of such credit to $1,000 for a taxable year.
Allows certain small business employers (100 or fewer employees) a business tax credit for ten percent of the cost of qualified water conservation property installed in or in connection with such employer's principal place of business.