S. 1321 would amend the Internal Revenue Code of 1986 to provide a credit for property labeled under the Environmental Protection Agency Water Sense program.
Detailed Summary
Water Accountability Tax Efficiency Reinvestment Act of 2009 or the WATER Act of 2009 - Amends the Internal Revenue Code to allow a tax credit for 30% of amounts paid for WaterSense labeled property certified by a licensed independent third party as meeting specifications of the Environmental Protection Agency (EPA) WaterSense program. Limits the lifetime dollar amount of such credit to $1,500. Terminates such credit after 2010.
Status of the Legislation
Latest Major Action: 6/23/2009: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
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