A bill to amend section 108 of the Internal Revenue Code of 1954 to provide that the discharge of certain farm indebtedness shall not be included in gross income.

openUnited States· United States Congress· EN

Introduced

21 March 1986

Last action

—

Status

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

Summary

Amends the Internal Revenue Code to provide that the discharge of certain farm indebtedness shall not be included in gross income. Requires that such indebtedness be incurred to finance the production of agricultural products or livestock or be secured by farmland or farm machinery.

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Documents

1 official file

Introduced in Senate
summary · EN · 21 March 1986
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/99th-congress/senate-bill/2221
Open data entity: https://api.congress.gov/v3/bill/99/s/2221