A bill to exclude from gross income, for purposes of Federal income tax, interest paid to sellers of agricultural land purchased with loans made by such sellers to certain farmers and ranchers and insured under the Consolidated Farm and Rural Development Act.

referredUnited States· United States Congress· EN

Introduced

12 February 1980

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to exclude from gross income interest income received by a seller of agricultural land pursuant to an insured loan under the Consolidated Farm and Rural Development Act which is extended to certain new farmers or ranchers.

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Documents

1 official file

Introduced in House
summary · EN · 12 February 1980
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/house-bill/6498
Open data entity: https://api.congress.gov/v3/bill/96/hr/6498