A bill relating to the year for including in gross income under the Internal Revenue Code of 1954 the amount of certain loan payments made pursuant to the Agricultural Act of 1949.

Summary

Authorizes certain taxpayers who received crop production loans from the Commodity Credit Corporation for the 1978 corn crop on or before December 22, 1978, to elect to treat such loans, according to provisions of the Internal Revenue Code, as gross income in 1979. Limits such election to borrowers who also received such loans for the 1977 corn crop during 1978, and who elected to treat such loans as gross income in the year in which they were received.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 February 1979

   Introduced

   Introduced in House

   Source: IntroReferral

2. 26 February 1979

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

3. 26 February 1979

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 26 February 1979

  Open at official source

Sponsors

• Rep. Hagedorn, Thomas M. [R-MN-2] · R · Sponsor
• · hswm00 · Standing

Related records

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