Farmers' Value-Added Agricultural Investment Tax Credit Act

Summary

Farmers' Value-Added Agricultural Investment Tax Credit Act - Amends the Internal Revenue Code to provide that for purposes of the general business credit, for either an eligible farmer or a farmer-owned entity, the value-added agricultural property investment credit for any taxable year is 50 percent of the basis of any qualified value-added agricultural property placed in service during the taxable year. Provides that, in the case of a farmer-owned entity, such credit shall be allocated on a pro rata basis among eligible persons holding qualified interests in such entity as of the last day of such taxable year. Limits such credit.

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Timeline

1. 15 June 2000

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 15 June 2000

   Introduced

   Sponsor introductory remarks on measure. (CR S5271-5272)

   Source: IntroReferral

3. 15 June 2000

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 15 June 2000 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 June 2000

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 June 2000

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 15 June 2000

  Open at official source

Sponsors

• Sen. Ashcroft, John [R-MO] · R · Sponsor
• Sen. Grams, Rod [R-MN] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Farmers' Value-Added Agricultural Investment Tax Credit Act