To amend the Internal Revenue Code of 1986 to allow non-exempt farmer cooperatives to elect patronage-sourced treatment for certain gains and losses, and for other purposes.

Summary

Amends the Internal Revenue Code to allow farmers' cooperatives to elect to treat as ordinary income or loss certain capital gains and losses from the disposition of assets used in conducting business with or for patrons. Decreases from five years to four years the maturity date for high yield discount obligations for purposes of determining the deduction for interest on indebtedness. Requires any interest received by a limited equity housing corporation on reasonable reserves (including reserves required by a government agency or lender) to be treated as income derived by such corporation from transactions with members.

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Documents

5 official files

• Reported in House (text)

  Reported in House · EN

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• Referred in Senate (text)

  Referred in Senate · EN

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• Introduced in House (text)

  Introduced in House · EN

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• Engrossed in House (text)

  Engrossed in House · EN

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• Introduced in House

  summary · EN · 22 July 1992

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