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US SB2007

Bill

Official Source

Status

Introduced

6/10/2025

Primary Sponsor

Michael Bennet

Click for details

Origin

Senate

119th Congress

AI Summary

  • Amends Internal Revenue Code Section 141(b)(6) to exempt lead service line replacement projects from "private business use" restrictions on tax-exempt municipal bonds
  • Allows public water systems to use tax-exempt bond proceeds to replace privately-owned portions of lead service lines without jeopardizing the bonds' tax-exempt status
  • Qualifying projects must facilitate compliance with national primary drinking water regulations for lead under the Safe Drinking Water Act
  • Applies to bonds issued after December 31, 2025
  • Introduced June 10, 2025 by Senators Bennet (D-CO) and Justice (R-WV) and referred to the Senate Finance Committee

Legislative Description

Financing Lead Out of Water Act of 2025

Taxation

Last Action

Read twice and referred to the Committee on Finance.

6/10/2025

Committee Referrals

Finance6/10/2025

Full Bill Text

No bill text available