A bill to amend the Internal Revenue Code of 1986 to provide that the special rule for proceeds from livestock sold on account of drought apply to livestock used for draft, breeding, dairy or sporting purposes.

referredUnited States· United States Congress· EN

Introduced

29 June 1988

Last action

—

Status

Read twice and referred to the Committee on Finance.

Summary

Amends the Internal Revenue Code to apply to livestock used for draft, breeding, dairy, or sporting purposes a special rule that permits a farmer or rancher who sells livestock solely because of drought conditions to elect to defer until the following year the taxation of the resulting income.

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Documents

1 official file

Introduced in Senate
summary · EN · 29 June 1988
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/100th-congress/senate-bill/2609
Open data entity: https://api.congress.gov/v3/bill/100/s/2609