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HR 3659 105th Congress House Taxation Agricultural production Agriculture and Food Business income tax Commerce Excise tax Farm income Finance and Financial Sector Financial statements Government Operations and Politics Government paperwork Income tax Law Tax deductions Tax deferral Tax exclusion Tax penalties Tax returns Trusts and trustees

Farm and Ranch Risk Management Act

Introduced: April 1, 1998 See on congress.gov
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 1, 1998
Referred to the House Committee on Ways and Means.
Apr 1, 1998
Introduced in House
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 Plain-English summary Congressional Research Service

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 which they are taxable as ordinary income in the year of withdrawal. Deems a distribution, subject to income tax, of any deposits not actually distributed within five years, and prescribes an additional penalty tax of ten percent of any such deemed distribution.

What's happening now April 1, 1998

Referred to the House Committee on Ways and Means.

 Related & companion bills 1
  • S 2078 Identical bill Farm and Ranch Risk Management Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Democratic 3 Republican 6
R
Wicker, Roger F.
Mississippi · Jun 4, 1998
 D
Thompson, Bennie G.
Mississippi · May 22, 1998
 R
Calvert, Ken
California · May 21, 1998
 R
Aderholt, Robert B.
Alabama · May 13, 1998
 R
Sessions, Pete
Texas · Apr 23, 1998
 D
Bishop, Sanford D.
Georgia · Apr 1, 1998
 D
Clyburn, James E.
South Carolina · Apr 1, 1998
 R
Moran, Jerry
Kansas · Apr 1, 1998
 R
Thune, John
South Dakota · Apr 1, 1998
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3659: Farm and Ranch Risk Management Act. 105th Congress. Open America. https://openamerica.io/bill/105-HR-3659/
MLA
"H.R. 3659: Farm and Ranch Risk Management Act." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-3659/.
Bluebook (legal)
H.R. 3659, 105th Cong. (2026), https://openamerica.io/bill/105-HR-3659/.
Markdown link
[H.R. 3659: Farm and Ranch Risk Management Act](https://openamerica.io/bill/105-HR-3659/)
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