Ken Buck’s WATER Act Approved by Ways and Means Committee
For Immediate Release
Contact: Kyle Huwa, 202-225-4676
Washington, D.C. – Today, Congressman Ken Buck commended the House Ways and Means Committee for approving the WATER Act (H.R. 519). This legislation amends the tax treatment of mutual water storage and delivery companies so that they can maintain their non-profit status even if more than 15% of their revenue comes from non-members. The non-member revenue beyond 15% must be invested in maintenance, operations, and infrastructure improvements. By changing the tax code in this way, the WATER Act allows these mutual water companies to reinvest in key infrastructure, keeping water affordable for farmers, ranchers, and rural communities.
“This legislation meets the needs of rural Colorado by keeping water affordable,” Congressman Ken Buck stated. “I thank the members of the Ways and Means Committee for considering this legislation and I ask my colleagues to support the bill on the House floor.”
The WATER Act will next go to the House floor for a vote by the whole House.