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.
Bill Sponsorship: giving tax breaks for start-up farms for 10-year commitment
Source: Beginning Farmers and Ranchers Act (H.R.5134)
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
- Surveys: '+' supports; '-' opposes.
participating in 08-HR5134
Total recorded by OnTheIssues: