US HB4757 | 2013-2014 | 113th Congress

Status

Spectrum: Slight Partisan Bill (Republican 2-1)
Status: Introduced on May 29 2014 - 25% progression, died in committee
Action: 2014-05-29 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Amends the Internal Revenue Code, with respect to private activity bond financing for first-time farmers, to: (1) increase from $450,000 to $509,600 (adjusted annually for inflation) the amount of bond proceeds that may be used by a first-time farmer to acquire land for farming purposes, (2) repeal the limitation on the use of bond proceeds for used farm equipment, and (3) modify the definition of "substantial farmland" to determine farm size by reference to the average (instead of median) size of a farm in the county in which the farm is located.

Tracking Information

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Title

To amend the Internal Revenue Code of 1986 to expand certain exceptions to the private activity bond rules for first-time farmers, and for other purposes.

Sponsors


History

DateChamberAction
2014-05-29HouseReferred to the House Committee on Ways and Means.

Subjects


US Congress State Sources


Bill Comments

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