Livestock Reinvestment Extension Act of 2002

Summary

Livestock Reinvestment Extension Act of 2002 - Amends the Internal Revenue Code to allow farmers to delay the inclusion in income of the amount earned from the sale of excess livestock due to Federal land management policy or action or to severe weather conditions until the second year following the year in which the special circumstance ceased to exist.(present law allows for inclusion of such income in the year following a year of severe weather). Sets forth new rules for drought designations. Modifies rules for replacement of involuntarily converted livestock, including to extend the replacement period (for both weather-related sales and sales forced by Federal policy) and to prescribe that an heir to an estate may replace such property within the required time frame. Applies this Act to sales and exchanges made after December 31, 2000.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 July 2002

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 July 2002

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 July 2002

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.