United States 117th Congress Status: In Committee 1 D cosponsors

S 4921 — Financing Lead Out of Water Act of 2022

Last action — Read twice and referred to the Committee on Finance.

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

Financing Lead Out of Water Act of 2022 This bill allows the issuance of tax-exempt private activity bonds to finance the replacement of any privately-owned portion of a lead service line in a public water system. Specifically, the bill provides that the use of proceeds from such bonds for replacement of a lead service line does not constitute private business use.

Bill Text

How this bill changes current law

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AI-generated reading aid from the bill's amendatory text — verify against the official bill.

This bill modifies the private business use requirements for certain bonds related to lead service line replacement projects under the Internal Revenue Code.

  • Section 141(b)(6)

    (D) Clarification relating to qualified lead service line replacement use.--(i) In general.--For purposes of this subsection, qualified lead service line replacement use shall not constitute private business use. (ii) Definitions.--For purposes of this subparagraph--(I) Qualified lead service line replacement use.--The term `qualified lead service line replacement use' means, with respect to any public water system, use of the proceeds of an issue to replace any privately-owned portion of a lead service line connected to such system to facilitate, achieve or maintain compliance with a national primary drinking water regulation for lead. (II) Lead service line.--The term `lead service line' has the meaning given such term in section 1459B(a)(4) of the Safe Drinking Water Act. (III) National primary drinking water regulation for lead.--The term `national primary drinking water regulation for lead' means a national primary drinking water regulation for lead promulgated under section 1412 of such Act. (IV) Public water system.--The term `public water system' has the meaning given such term in section 1401(4) of such Act.

    This creates a new category that exempts proceeds used for replacing lead service lines from being classified as private business use.

  • The amendments made by this section shall apply to obligations issued after December 31, 2022.

    This specifies when the new provisions regarding lead service line replacement will take effect.

Action History

  1. Introduced in Senate

  2. Read twice and referred to the Committee on Finance.

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance environment
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Frequently asked questions

What does S 4921 do?
Financing Lead Out of Water Act of 2022 This bill allows the issuance of tax-exempt private activity bonds to finance the replacement of any privately-owned portion of a lead service line in a public water system. Specifically, the bill provides that the use of proceeds from such bonds for replacement of a lead service line does not constitute private business use.
Who sponsors S 4921?
S 4921 is sponsored by Bennet, Michael F. (Democratic).
What is the current status of S 4921?
This bill died with 117th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 4921?
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Last checked for changes 3 months ago · updated continuously

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