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.

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.

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

Timeline

1. 12 February 1980

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 12 February 1980

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 February 1980

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 12 February 1980

  Open at official source

Sponsors

• Rep. Stangeland, Arlan [R-MN-7] · R · Sponsor
• Rep. Duncan, John J. [R-TN-2] · R · Cosponsor
• Rep. Beilenson, Anthony C. [D-CA-24] · D · Cosponsor
• Sen. Grassley, Chuck [R-IA] · R · Cosponsor
• Rep. Wilson, Charles [D-TX-2] · D · Cosponsor
• Rep. Erdahl, Arlen [R-MN-1] · R · Cosponsor
• · hswm00 · Standing

Related records

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