S 493
113th Congress
Senate
Taxation
Agricultural insurance
Agricultural prices, subsidies, credit
Bank accounts, deposits, capital
Business investment and capital
Income tax deductions
Dairy Augmentation for Increased Retail in Yogurt products (DAIRY) Act
Introduced: March 7, 2013
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 7, 2013
Read twice and referred to the Committee on Finance.
Mar 7, 2013
Introduced in Senate
Plain-English summary
Dairy Augmentation for Increased Retail in Yogurt products (DAIRY) Act - Amends the Internal Revenue Code to: (1) establish tax-exempt dairy farm savings accounts to allow taxpayers engaged in the trade or business of dairy farming to use distributions from such accounts to pay business expenses; (2) allow a deduction from gross income for cash contributions to such accounts; and (3) set forth tax rules relating to, and penalties for, account distributions, excess contributions, and prohibited transactions.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1