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HR 662 107th Congress House

Farm and Ranch Risk Management Act

Official title: To amend the Internal Revenue Code of 1986 to provide for Farm and Ranch Risk Management Accounts, and for other purposes.

Introduced: April 25, 2001 See on congress.gov
Taxation Agricultural productionAgriculture and FoodBusiness income taxCommerce
More subjectsShow fewer subjects
Excise taxFarm incomeFarmersFinance and Financial SectorFinancial statementsFisheriesFishing boatsGovernment Operations and PoliticsGovernment paperworkIncome taxLawMarine and coastal resources, fisheriesTax deductionsTax deferralTax exclusionTax penaltiesTax returnsTrusts and trustees
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) 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
Feb 14, 2001
Referred to the House Committee on Ways and Means.
Feb 14, 2001
Introduced in House
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 Latest action February 14, 2001

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service
Farm and Ranch Risk Management Act - Amends the Internal Revenue Code to allow an individual engaged in an eligible farming or commercial fishing business a deduction for any taxable year of up to 20 percent of taxable income attributable to the eligible farming or commercial fishing business which was paid in cash by the taxpayer to a Farm and Ranch Risk Management Account (FARRM Account).

Includes distributions from a FARRM account in the taxpayer's gross income, and subjects to a special ten percent surtax any distributions not made within five years of contribution. Establishes a tax on excess contributions, but exempts the taxpayer from the tax on certain prohibited transactions.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 22
All 22 Democratic 5 Republican 6
R
Thune, John
South Dakota · Sep 6, 2001
Toomey, Patrick
· Aug 2, 2001
BEREUTER, DOUGLAS
· Jul 24, 2001
HOUGHTON, AMO
· Jul 24, 2001
 D
Thompson, Mike
California · Jun 21, 2001
 D
Larsen, Rick
Washington · May 25, 2001
Isakson, Johnny
· May 24, 2001
MCINNIS, SCOTT
· May 10, 2001
 D
Kaptur, Marcy
Ohio · Apr 25, 2001
LUCAS, KEN
· Apr 25, 2001
 R
Rogers, Harold
Kentucky · Apr 25, 2001
 R
Wicker, Roger F.
Mississippi · Apr 25, 2001
COMBEST, LARRY
· Apr 3, 2001
 D
DeLauro, Rosa L.
Connecticut · Apr 3, 2001
 R
Sessions, Pete
Texas · Apr 3, 2001
 D
Bishop, Sanford D.
Georgia · Mar 27, 2001
DOOLEY, CAL
· Mar 27, 2001
FROST, MARTIN
· Mar 27, 2001
 R
Graves, Sam
Missouri · Mar 27, 2001
GREENWOOD, JAMES
· Mar 27, 2001
 R
Moran, Jerry
Kansas · Mar 27, 2001
OSE, DOUG
· Mar 27, 2001
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 662: Farm and Ranch Risk Management Act. 107th Congress. Open America. https://openamerica.io/bill/107-HR-662/
MLA
"H.R. 662: Farm and Ranch Risk Management Act." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-662/.
Bluebook (legal)
H.R. 662, 107th Cong. (2026), https://openamerica.io/bill/107-HR-662/.
Markdown link
[H.R. 662: Farm and Ranch Risk Management Act](https://openamerica.io/bill/107-HR-662/)
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