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- H.R.3559
H.R.3559: To amend the Internal Revenue Code of 1986 to provide a deduction for a portion of the fiscal year 1996 transitional payment under the Agricultural Market Transition Act which is deposited into a reserve against future farm losses.
About This Bill
- This bill was introduced in the 104th Congress
- This bill is primarily about taxation
- Introduced May 30, 1996
- Latest Major Action May 30, 1996
Bill Sponsor
Bill Cosponsors
10 (1 Democrat, 9 Republicans)
Bill Summary
Amends the Internal Revenue Code to allow, at the election of the taxpayer, a deduction for the taxable year in which the taxpayer receives the first-year agricultural market transition payment equal to the amount paid by the taxpayer during such taxable year to the Agricultural Market Transition Reserve of the taxpayer. Limits the amount which may be paid into the Reserve. Makes amounts distributed includible in gross income.
(Source: Library of Congress)
Bill Actions
Date | Description |
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Referred to the House Committee on Ways and Means.
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May 30, 1996 |
Introduced in the House by George R. Nethercutt (R-Wash.) |