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- S.2078
S.2078: Farm and Ranch Risk Management Act
About This Bill
- This bill was introduced in the 105th Congress
- This bill is primarily about taxation
- Introduced May 13, 1998
- Latest Major Action May 13, 1998
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
26 (7 Democrats, 20 Republicans)
Bill Summary
Farm and Ranch Risk Management Act - Amends the Internal Revenue Code to allow individuals engaged in eligible farming businesses to deduct from gross income for any taxable year the amount (limited to 20 percent of the individual's taxable income for the year) paid into an interest-bearing Farm and Ranch Risk Management (FARRM) Account, created for the taxpayer's exclusive benefit. Requires withdrawal of contributions within five years, upon...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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| May 13, 1998 |
Introduced in the Senate by Charles E. Grassley (R-Iowa) |