duced by the general public (including electric util-
ity, industrial, agricultural, commercial, or residen-
tial users) to the extent such reclaimed wastewater 
is re-used for a beneficial use. 
‘‘(j) SPECIAL RULES RELATING TO POOL BONDS.— 
No portion of a pooled financing bond may be allocable 
to any loan unless the borrower has entered into a written 
loan commitment for such portion prior to the issue date 
of such bond. 
‘‘(k) BONDS HELD
BY REGULATED INVESTMENT 
COMPANIES.—If any clean renewable water supply bond 
is held by a regulated investment company, the credit de-
termined under subsection (a) shall be allowed to share-
holders of such company under procedures prescribed by 
the Secretary. 
‘‘(l) INFORMATION REPORTING.—Issuers of clean re-
newable water supply bonds shall submit reports similar 
to the reports required under section 149(e). 
‘‘(m) REGULATIONS.—The Secretary shall prescribe 
regulations to carryout this section, including regulations 
promulgated in consultation with Director of the Environ-
mental Protection Agency to ensure the environmental im-
pact of qualified facilities is minimized.’’. 
(b) REPORTING.—Subsection (d) of section 6049 of 
such Code (relating to returns regarding payments of in-
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terest) is amended by adding at the end the following new 
paragraph: 
‘‘(9) REPORTING OF CREDIT ON CLEAN RENEW-
ABLE WATER SUPPLY BONDS.— 
‘‘(A) IN GENERAL.—For purposes of sub-
section (a), the term ‘interest’ includes amounts 
includible in gross income under section 54A(f) 
and such amounts shall be treated as paid on 
the credit allowance date (as defined in section 
54A(b)(4)). 
‘‘(B) 
REPORTING
TO
CORPORATIONS, 
ETC.—Except as otherwise provided in regula-
tions, in the case of any interest described in 
subparagraph (A), subsection (b)(4) shall be 
applied without regard to subparagraphs (A), 
(H), (I), (J), (K), and (L)(i) of such subsection. 
‘‘(C) REGULATORY AUTHORITY.—The Sec-
retary may prescribe such regulations as are 
necessary or appropriate to carry out the pur-
poses of this paragraph, including regulations 
which require more frequent or more detailed 
reporting.’’. 
(c) CLERICAL AMENDMENTS.—The table of sections 
for part IV of subchapter A of chapter 1, as amended by 
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this Act, is amended by inserting after section 54 the fol-
lowing new item: 
‘‘Sec. 54A. Credit to holders of clean renewable water supply bonds.’’. 
(d) ISSUANCE OF REGULATIONS.—The Secretary of 
Treasury shall issue regulations required under section 
54A of the Internal Revenue Code of 1986 (as added by 
this section) not later than 120 days after the date of the 
enactment of this Act. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to bonds issued after the date of 
the enactment of this Act. 
Æ 
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