A bill to amend the Internal Revenue Code of 1954 to allow a credit against tax for contributions of certain agricultural products to certain tax-exempt organizations.

Summary

Amends the Internal Revenue Code to allow an income tax credit for charitable contributions of certain crops, livestock, or poultry to tax-exempt organizations. Limits the credit to ten percent of the wholesale market price or the most recent sale price. Requires that the donated agricultural product be unsalable at a price which would enable the taxpayer to recover his costs and that it be fit for human consumption.

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Timeline

1. 10 June 1981

   Introduced

   Read second time and referred to Senate Committee on Finance.

   Source: IntroReferral

2. 10 June 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 15 June 1981

   Committee

   Committee on Finance requested executive comment from OMB; Treasury Department; Agriculture Department.

   Source: Committee

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 10 June 1981

  Open at official source

Sponsors

• Sen. Hatfield, Mark O. [R-OR] · R · Sponsor
• Sen. Melcher, John [D-MT] · D · Sponsor
• Sen. Stevens, Ted [R-AK] · R · Sponsor
• Sen. Levin, Carl [D-MI] · D · Sponsor
• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• Sen. Cranston, Alan [D-CA] · D · Sponsor
• Sen. Baucus, Max [D-MT] · D · Sponsor
• · ssfi00 · Standing

Related records

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