Agricultural Producers Value-Added Investment Tax Credit Act of 2007

Summary

Agricultural Producers Value-Added Investment Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow individuals who materially participate in a farming business and certain farmer-owned entities a business tax credit up to $30,000 for investment in qualified value-added agricultural property. Defines "qualified value-added agricultural property" as depreciable property which is used to add value to a good or product, suitable for food or nonfood use, derived in whole or in part from organic matter which is available on a renewable basis, including agricultural crops and agricultural wastes and residues, wood wastes and residues, and domesticated animal wastes. Terminates the credit after 2012.

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

Timeline

1. 11 June 2007

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 11 June 2007

   Introduced

   Sponsor introductory remarks on measure. (CR E1258-1259)

   Source: IntroReferral

3. 11 June 2007

   Introduced

   Introduced in House

   Source: IntroReferral

4. 11 June 2007

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 11 June 2007 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 11 June 2007

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 11 June 2007

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 11 June 2007

  Open at official source

Sponsors

• Rep. McHugh, John M. [R-NY-23] · R · Sponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.