A bill to amend the Internal Revenue Code of 1954 to allow an additional 10 percent investment tax credit for new, more efficient irrigation equipment.

referredUnited States· United States Congress· EN

Introduced

3 August 1983

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to allow an additional ten percent investment tax credit for new irrigation equipment. Terminates such additional percentage after December 31, 1989. Requires a reduction in the amount of such credit where such equipment is financed by nontaxable grants. Limits the amount of such credit to 25 percent of the taxpayer's gross income derived from farming.

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Documents

1 official file

Introduced in House
summary · EN · 3 August 1983
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/98th-congress/house-bill/3759
Open data entity: https://api.congress.gov/v3/bill/98/hr/3759