To amend the Internal Revenue Code of 1986 to allow a credit to first-time farmers for purchases of farmland and farm equipment.

Summary

Amends the Internal Revenue Code to allow general business credits to first-time farmers for the purchase of farmland and farm equipment equal to ten percent of their cost. Limits the farmland credit to $35,000 ($17,500 in the case of a separate return by a married individual). Limits the farm equipment credit to $15,000 ($7,500 in the case of such separate return).

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

Timeline

1. 12 March 1992

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 12 March 1992

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 March 1992

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

• Introduced in House · — · Download file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 March 1992

  Open at official source

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Sponsors

• Rep. de la Garza, E. [D-TX-15] · D · Sponsor
• Rep. English, Glenn [D-OK-6] · D · Sponsor
• Rep. Long, Jill L. [D-IN-4] · D · Cosponsor
• Sen. Johnson, Tim [D-SD] · D · Cosponsor
• Rep. Hatcher, Charles [D-GA-2] · D · Cosponsor
• Rep. Stallings, Richard H. [D-ID-2] · D · Cosponsor
• Rep. Staggers, Harley O., Jr. [D-WV-2] · D · Cosponsor
• · hswm00 · Standing

Related records

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