HR 1094
107th Congress
House
Taxation
Agribusiness
Agricultural cooperatives
Agricultural machinery
Agriculture and Food
Business income tax
Commerce
Corporation taxes
Families
Family farms
Farmers
Income tax
Investment tax credit
Minimum tax
Partnerships
Small business
Tax credits
Tax deductions
Farmers' Value-Added Agricultural Investment Tax Credit Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 19, 2001
Referred to the House Committee on Ways and Means.
Mar 19, 2001
Introduced in House
Plain-English summary
Farmers' Value-Added Agricultural Investment Tax Credit Act - Amends the Internal Revenue Code to provide that for purposes of the general business credit, for either an eligible farmer or a farmer-owned entity, the value-added agricultural property investment credit for any taxable year is 50 percent of the basis of any qualified value-added agricultural property placed in service during the taxable year. Provides that, in the case of a farmer-owned entity, such credit shall be allocated on a pro rata basis among eligible persons holding qualified interests in such entity as of the last day of such taxable year. Limits such credit.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1