A bill to amend the Internal Revenue Code of 1954 to allow the investment tax credit to certain individuals who purchase used section 38 property used for farming purposes from a related party.

Summary

Amends the Internal Revenue Code to allow the investment tax credit to certain individuals who purchase used depreciable business property used for farming purposes (including livestock used for breeding purposes) from a related party. Limits such allowance to the first sale of such property to a qualified individual.

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

Timeline

1. 18 June 1980

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 18 June 1980

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 18 June 1980

  Open at official source

Sponsors

• Sen. Jepsen, Roger W. [R-IA] · R · Sponsor
• · ssfi00 · Standing

Related records

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