Agricultural Land Diversion Tax Treatment Act of 1983

Summary

Agricultural Land Diversion Tax Treatment Act of 1983 - Amends the Internal Revenue Code to permit farmers who participate in a payment-in-kind program to treat commodities received under such program as income in the year of sale rather than in the year of receipt. Treats such income as farm income for all tax purposes including the Social Security Act. Provides that farm land diverted from production under a qualified diversion program shall be treated as used in a farming business for purposes of the estate tax special use valuation. Defines "qualified diversion program." Specifies that farmers' cooperatives shall not forfeit tax- exempt status by the marketing of commodities received under a payment-in-kind program.

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Timeline

1. 3 March 1983

   Reported

   Committee on Finance ordered to be reported an original measure.

   Source: Committee

2. 4 March 1983

   Calendars

   Placed on Senate Legislative Calendar under Regular Orders. Calendar No. 34.

   Source: Calendars

3. 4 March 1983

   Reported

   Committee on Finance. Original measure reported to Senate by Senator Dole under the authority of the order of Mar 3, 83. Without written report.

   Source: Committee

4. 4 March 1983

   Reported

   Committee on Finance. Original measure reported to Senate by Senator Dole under the authority of the order of Mar 3, 83. Without written report.

   Source: Committee

5. 4 March 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

6. 8 March 1983

   Passed

   Other measure H.R. 1296 passed in Senate affecting measure.

   Source: Floor

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 4 March 1983

  Open at official source

Sponsors

• Sen. Dole, Robert J. [R-KS] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → Payment-in-Kind Tax Treatment Act of 1983