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HR 1296 98th Congress House Agriculture and Food Accounting Acreage allotments Agricultural credit Agricultural price supports Agricultural subsidies Agriculture and Rural Affairs Estate tax Family farms Farm production quotas Farms Income tax Payment-in-kind program Tax deferral Taxation Valuation

Payment-in-Kind Tax Treatment Act of 1983

Introduced: February 7, 1983 See on congress.gov
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 Everywhere this bill has been 24 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 11, 1983
Became Public Law No: 98-4.
Mar 11, 1983
Signed by President.
Mar 11, 1983
Presented to President.
Mar 10, 1983
Measure Signed in Senate.
Mar 10, 1983
Senate agreed to the House amendment to the Senate amendment. By Voice Vote.
Mar 10, 1983
Resolving differences -- Senate actions: Senate agreed to the House amendment to the Senate amendment. By Voice Vote.
Mar 9, 1983
House agreed to Senate Amendments with an Amendment by Unanimous Consent.
Mar 9, 1983
Resolving differences -- House actions: House agreed to Senate Amendments with an Amendment by Unanimous Consent.
Mar 8, 1983
Passed Senate in lieu of S. 690 with an amendment by Voice Vote.
Mar 8, 1983
Passed/agreed to in Senate: Passed Senate in lieu of S. 690 with an amendment by Voice Vote.
Mar 8, 1983
Received in the Senate, read twice and laid before the Senate.
Mar 8, 1983
Passed House (Amended) by Yea-Nay Vote: 401 - 1 (Record Vote No: 21).
Mar 8, 1983
Passed/agreed to in House: Passed House (Amended) by Yea-Nay Vote: 401 - 1 (Record Vote No: 21).
Mar 8, 1983
Called up by House Under Suspension of Rules.
Mar 2, 1983
Placed on Union Calendar No: 9.
Mar 2, 1983
Reported to House (Amended) by House Committee on Ways and Means. Report No: 98-14.
Mar 1, 1983
Ordered to be Reported (Amended).
Mar 1, 1983
Committee Consideration and Mark-up Session Held.
Feb 23, 1983
Forwarded by Subcommittee to Full Committee (Amended).
Feb 23, 1983
Subcommittee Consideration and Mark-up Session Held.
Feb 23, 1983
Subcommittee Hearings Held.
Feb 15, 1983
Referred to Subcommittee on Select Revenue Measures.
Feb 7, 1983
Referred to House Committee on Ways and Means.
Feb 7, 1983
Introduced in House
 Plain-English summary Congressional Research Service
(Reported to House from the Committee on Ways and Means with amendment, H. Rept. 98-14)

Payment-in-Kind Tax Treatment Act of 1983 - Amends the Internal Revenue Code to permit farmers who participate in a 1983 payment-in-kind program to treat commodities received under such program as income in the year of sale rather than in the year of receipt. Provides that farm land diverted under a 1983 payment-in-kind program shall be treated as used in a farming business for purposes of the estate tax special use valuation. Treats such income as farm income for all tax purposes, including the social security tax. Limits such tax treatment to only those crops which would normally be harvested or planted on or before December 31, 1983.

Restricts eligibility for such tax treatment to those who own farm lands as of February 23, 1983, or those who received such land through: (1) inheritance; (2) gift from a person who held suchland as of such date; or (3) gift or purchase from a family member who held such land as of such date.

Specifies that an organization which was organized as an agricultural organization in 1955 and has been granted tax-exempt status shall continue to qualify for such status if it meets certain requirements.

Requires the Secretary of the Treasury to submit to the Congress by September 1, 1983, a study of the effects of the payment-in-kind program and its tax treatment.

What's happening now March 11, 1983

Became Public Law No: 98-4.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 2