S 2221
99th Congress
Senate
Taxation
Agricultural credit
Agriculture and Rural Affairs
Debtor and creditor
Income tax
Tax exclusion
A bill to amend section 108 of the Internal Revenue Code of 1954 to provide that the discharge of certain farm indebtedness shall not be included in gross income.
Introduced: March 21, 1986
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 27, 1986
Committee on Finance requested executive comment from OMB, Treasury Department, Agriculture Department.
Mar 21, 1986
Read twice and referred to the Committee on Finance.
Mar 21, 1986
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to provide that the discharge of certain farm indebtedness shall not be included in gross income. Requires that such indebtedness be incurred to finance the production of agricultural products or livestock or be secured by farmland or farm machinery.
What's happening now
Committee on Finance requested executive comment from OMB, Treasury Department, Agriculture Department.
Committees of jurisdiction
1
Cosponsors
1