HR 483
108th Congress
House
Taxation
Agriculture and Food
Animals
Capital gains tax
Commerce
Corporation taxes
Disaster relief
Droughts
Emergency Management
Estates (Law)
Farm lands
Floods
Government Operations and Politics
Government paperwork
Income tax
Land transfers
Land use
Law
Livestock
Public Lands and Natural Resources
Livestock Reinvestment Extension Act of 2003
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 29, 2003
Referred to the House Committee on Ways and Means.
Jan 29, 2003
Introduced in House
Plain-English summary
Livestock Reinvestment Extension Act of 2003 - Amends the Internal Revenue Code to allow farmers to delay the inclusion in income of the amount earned from the sale of excess livestock due to Federal land management policy or action or to severe weather conditions until the second year following the year in which the special circumstance ceased to exist.(present law allows for inclusion of such income in the year following a year of severe weather).
Sets forth new rules for drought designations. Modifies rules for replacement of involuntarily converted livestock, including to extend the replacement period (for both weather-related sales and sales forced by Federal policy) and to prescribe that an heir to an estate may replace such property within the required time frame.
Applies this Act to sales and exchanges made after December 31, 2000.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1