US HB1750 | 2017-2018 | 115th Congress
Status
Spectrum: Slight Partisan Bill (Republican 5-2)
Status: Introduced on March 28 2017 - 25% progression, died in committee
Action: 2017-03-28 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 28 2017 - 25% progression, died in committee
Action: 2017-03-28 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Facilitating Farmers' Access to Resources and Machinery Act This bill amends the Internal Revenue Code, with respect to private activity bond financing for first-time farmers, to: (1) increase from $450,000 to $524,200 (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 separate dollar 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.
Title
Facilitating Farmers' Access to Resources and Machinery Act
Sponsors
Rep. David Young [R-IA] | Rep. David Loebsack [D-IA] | Rep. Steve King [R-IA] | Rep. Collin Peterson [D-MN] |
Rep. Rod Blum [R-IA] | Rep. Darin LaHood [R-IL] | Rep. Kristi Noem [R-SD] |
History
Date | Chamber | Action |
---|---|---|
2017-03-28 | House | Referred to the House Committee on Ways and Means. |
2017-03-28 | House | Introduced in House |
Subjects
Agricultural equipment and machinery
Farmland
Income tax exclusion
Inflation and prices
Securities
Taxation
Farmland
Income tax exclusion
Inflation and prices
Securities
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/house-bill/1750/all-info |
Text | https://www.congress.gov/115/bills/hr1750/BILLS-115hr1750ih.pdf |