S 2498
105th Congress
Senate
Taxation
Agricultural cooperatives
Agriculture and Food
Business income tax
Commerce
Feeds
Income tax
Judicial opinions
Law
Livestock industry
Tax-exempt organizations
A bill to amend the Internal Revenue Code of 1986 to clarify the tax treatment of agricultural cooperatives and to allow declaratory judgment relief for such cooperatives.
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 18, 1998
Read twice and referred to the Committee on Finance.
Sep 18, 1998
Sponsor introductory remarks on measure. (CR S10591)
Sep 18, 1998
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code, concerning the exemption of farmers' cooperatives from taxation, to define "marketing the products of members or other producers" to include feeding the products of members or other producers to cattle, hogs, fish, chickens, or other animals and selling the resulting animals or animal products. Provides for declaratory judgment relief for such cooperatives.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1