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- S.2167
S.2167: Farm Savings Account Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced Oct. 16, 2007
- Latest Major Action Oct. 16, 2007
Bill Sponsor
Bill Summary
Farm Savings Account Act of 2007 - Amends the Internal Revenue Code to: (1) establish tax-exempt farm savings accounts to allow taxpayers engaged in the business of farming or ranching to use distributions from such accounts to offset operational losses in lieu of receiving, after a specified transitional period, federal subsidies to purchase crop insurance; (2) allow a tax deduction for cash contributions to such accounts; (3) specify minimum...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Read twice and referred to the Committee on Finance.
|
|
| Oct. 16, 2007 |
Introduced in the Senate by Jeff Sessions (R-Ala.) |