A bill to provide Federal tax treatment for payments under, and facilities idled by, the Milk Production Termination Program.

Summary

Provides that any payment received under a milk production termination program established by the Agricultural Act of 1949 shall be subject to taxation in the taxable year of actual receipt of such payment. Provides that provisions of the Internal Revenue Code relating to the recapture of the investment tax credit shall not apply with respect to any facility which is subject to the provisions of a milk production termination program established by the Agricultural Act of 1949.

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

Timeline

1. 30 March 1987

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 30 March 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 30 March 1987

  Open at official source

Sponsors

• Sen. Boschwitz, Rudy [R-MN] · R · Sponsor
• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• · ssfi00 · Standing

Related records

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