A bill to amend the Internal Revenue Code of 1986 to allow institutions of the Farm Credit System to deduct amounts added to a reserve for bad debts under rules applicable to the deduction of such amounts by small banks.

referredUnited States· United States Congress· EN

Introduced

4 June 1987

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to permit institutions of the Farm Credit System an income tax deduction for any reasonable addition to reserves for bad debts. Applies this deduction in lieu of the deduction generally applicable to worthless debts.

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Votes

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Versions

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Documents

1 official file

Introduced in House
summary · EN · 4 June 1987
Open at official source

Related records

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Sources

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Official source: https://www.congress.gov/bill/100th-congress/house-bill/2603
Open data entity: https://api.congress.gov/v3/bill/100/hr/2603