S 1674
104th Congress
Senate
Taxation
Agriculture and Food
Commerce
Farm lands
Farmers
Finance and Financial Sector
Income tax
Industrial development bonds
Land transfers
Tax-exempt securities
A bill to amend the Internal Revenue Code of 1986 to expand the applicability of the first-time farmer exception.
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 16, 1996
Read twice and referred to the Committee on Finance.
Apr 16, 1996
Sponsor introductory remarks on measure. (CR S3401-3402)
Apr 16, 1996
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to treat the acquisition by a first-time farmer of land or personal property from a related person as not being an acquisition from a related person. Modifies the definition of "substantial farmland."
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1