A bill to amend the Internal Revenue Code in order to clarify the right of cooperatives to net earnings and losses among patronage allocation units, and for other purposes.

Amends the Internal Revenue Code to permit farmer-owned cooperatives (at the option of the cooperative) to compute the net earnings of the organization by offsetting losses incurred by one or more allocation units of the organization (whether functional, divisional, departmental, geographic, or otherwise) against income of one or more other of such allocation units to the extent that such income is derived from business conducted with or for patrons of the organization. Requires certain information be furnished patrons of the cooperative respecting the offsetting of income and losses among allocation units and the right to additional financial information.