Ken Buck Re-Introduces the WATER Act
Washington, D.C. – Last week, Congressman Ken Buck (CO-04) introduced H.R. 807, the Water and Agriculture Tax Reform (WATER) Act of 2019, a key legislative priority that unanimously passed on the House floor last year and Buck hopes to shepherd to the House floor again in the 116th Congress. Senator Gardner will be introducing the Senate companion bill. This legislation allows mutual water storage and delivery companies to maintain their tax-exempt status, even if they receive more than 15 percent of their revenue from non-member sources, so long as the monies are reinvested into maintenance, operations, and infrastructure improvements. In other words, this legislation allows mutual irrigation and ditch companies to use their own assets to pay for infrastructure improvements that are vital to their operations, which keeps water prices lower for users.
“The WATER Act is a commonsense, free-market solution that will help support our local economies, address the rising cost of water, and assist our farmers and ranchers to ensure funds are reinvested in rural water infrastructure. We worked hard to get this legislation through the House last year, and I’m hopeful that this year we’ll see it pass the House and Senate and signed into law,” stated Congressman Ken Buck.
“So many Coloradans rely on access to water for their livelihood. Colorado farmers and ranchers should be provided the necessary flexibility to achieve success in their respective businesses. The WATER Act will supply an avenue for water infrastructure to be built across the state, supporting agricultural communities by providing access to an affordable water supply. This is a commonsense proposal that Congressman Buck and I will work together to see signed into law,” stated Senator Cory Gardner.