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This page contains bill sponsorships in the Senate and House.
Bill sponsorships indicate the topics that legislators are most interested in, and spend the most time on.
This bill amends the Internal Revenue Code to exclude from gross income 100% of the gain, up to $500,000, from the sale of qualified farm property to a first-time farmer who certifies that such property will be used for farming purposes for 10 years. - Allows a 50% exclusion for the sale of qualified farm property to any other person who certifies that such property will be used for farming purposes for 10 years.
- Allows a 25% exclusion for the sale of qualified farm property to any other person for any other use.
- Defines "qualified farm property" as real estate which is used for farming purposes for a specified three-year period and in which there was participation by the taxpayer or the taxpayer's family.
- Topic: Environment
- Headline: Give tax breaks for start-up farms for 10-year commitment
- Key for participation codes:
- Sponsorships: p=sponsored; o=co-sponsored; s=signed
- Memberships: c=chair; m=member; e=endorsed; f=profiled; s=scored
- Resolutions: i=introduced; w=wrote; a=adopted
- Cases: w=wrote; j=joined; d=dissented; c=concurred
Independents
participating in 08-HR5134 |
Total recorded by OnTheIssues:
Democrats:
6
Republicans:
13
Independents:
0 |
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