US SB857

Amends Internal Revenue Code Section 136 to exclude from gross income subsidies for water conservation or efficiency measures, storm water management measures, and wastewater management measures provided by public utilities, storm water management providers, or state/local governments

Defines "water conservation or efficiency measure" as any evaluation, installation, or modification primarily designed to reduce water consumption or improve water demand management for dwelling units

Defines "storm water management measure" as any installation or modification designed to reduce or manage storm water amounts, including flood prevention measures for dwelling units

Defines "wastewater management measure" as any installation or modification to manage wastewater (including septic tanks and cesspools), limited to taxpayer's principal residence

Applies retroactively to amounts received after December 31, 2021, and expands the definition of "public utility" to include sellers of water in addition to electricity and natural gas