Farm Risk Management Act of 2007
To amend the Internal Revenue Code of 1986 to authorize agricultural producers to establish and contribute to tax-exempt farm risk management accounts in lieu of obtaining federally subsidized crop insurance or noninsured crop assistance, to provide for contributions to such accounts by the Secretary of Agriculture, to specify the situations in which amounts may be paid to producers from such accounts, and to limit the total amount of such distributions to a producer during a taxable year, and for other purposes.
Other Bill Titles (2 more) 4/17/2007--Introduced.
Farm Risk Management Act of 2007 - Amends the Internal Revenue Code to:
(1) establish tax-exempt farm risk management accounts to allow taxpayers engaged in the business of farming or ranching to use distributions from such accounts to offset operati... moreSee Full Bill Text
Committees
Amendments
This bill has no amendments.
Bill Status
| Introduced | ![]() | Voted on by House | ![]() | Voted on by Senate | ![]() | Considered By President | ![]() | Bill Becomes Law |
| April 17, 2007 |
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