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- H.R.2978
H.R.2978: Beginning Farmers and Ranchers Tax Incentive Act of 2003
About This Bill
- This bill was introduced in the 108th Congress
- This bill is primarily about taxation
- Introduced July 25, 2003
- Latest Major Action July 25, 2003
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
40 (14 Democrats, 27 Republicans)
Bill Summary
Beginning Farmers and Ranchers Tax Incentive Act of 2003 - Amends the Internal Revenue Code to exclude from gross income: (1) 100 percent of the gain from the sale or exchange of qualified farm property to a first-time farmer who certifies that the use of such property shall be as a farm for farming purposes for not less than 10 years after such sale or exchange; (2) 50 percent of the gain from the sale or exchange of qualified farm property...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| July 25, 2003 |
Introduced in the House by Lee Terry (R-Neb.) |