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HR 3615 99th Congress House Taxation Agricultural machinery Agriculture and Rural Affairs Farms Finance and Financial Sector Income tax Industrial development bonds Interest Securities and Investments Tax exclusion Tax-exempt securities

Agricultural IDB Protection Act of 1985

Introduced: October 24, 1985 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 24, 1985
Referred to House Committee on Ways and Means.
Oct 24, 1985
Introduced in House
 Plain-English summary Congressional Research Service

Agricultural IDB Protection Act of 1985 - Amends the Internal Revenue Code to modify the definition of "manufacturing facility" for purposes of tax-exempt industrial development bonds to include land, improvements to land, or property of a character subject to the allowance for depreciation that is used in the cultivation, raising, production, catching, harvesting, or processing of plants or animals. Modifies the definition of "substantial farmland" to require the size of the parcel to be 30 percent of the median size of a farm in the county in which the parcel is located. Permits used farm equipment to be eligible for industrial development bonds if it is acquired by an individual who is a first-time farmer.

What's happening now October 24, 1985

Referred to House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1