To amend the Internal Revenue Code of 1986 to reestablish the marketing aspects of farmers' cooperatives in relation to adding value to a farmer's product by feeding it to animals and selling the animals and to grant a declaratory judgment remedy relating to the status and classification of farmers' cooperatives.

Summary

Amends the Internal Revenue Code, with respect to the treatment of S corporations and to the tax exemption for farmers' cooperatives, to declare that cooperative marketing includes the value-added processing of the products of cooperative members and other producers through animals, that is, by: (1) feeding such products to cattle, hogs, fish, chickens, or other animals; and then (2) selling the animals (or animal products) which were fed such feed products. Authorizes a U.S. district court to issue a declaratory judgment relating to the initial or continuing qualification of a farmers' cooperative as tax-exempt.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 15 April 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 15 April 1999

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• Introduced in House

  summary · EN · 15 April 1999

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