U.S. Congress - H.R.1882 Farm Risk Management Act of 2007
H.R.1882 - 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. view all titles (2)
All Bill Titles
- Official: 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. as introduced.
- Short: Farm Risk Management Act of 2007 as introduced.
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Official Summary
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 operational losses in lieOfficial Summary
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 operational losses in lieu of receiving, after a specified transitional period, federal subsidies to purchase crop insurance;
(2) allow a tax deduction for cash contributions to such accounts;
(3) specify minimum levels of contributions to, and maximum levels of distributions from, such accounts;
(4) require the Secretary of Agriculture to make matching contributions to such accounts; and
(5) set forth tax rules relating to account distributions, excess contributions, and prohibited transactions.
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Recent Blog Coverage
AL-02: Everett in New Love Ad » Docâs Political Parlor
H.R. 1882: Farm Risk Management Act of 2007 View All⦠Comment by Straight Arrow â September 17, 2008 @ 11:11 pm. By the wayâ here is your vote on CAFTAâ give the jobs away.. We donât need themâ¦â¦.. Right⦠...
WashingtonWatch.com - S. 2167, The Farm Savings Account Act of 2007
The Farm Risk Management Act of 2007 (H.R. 1882). See Bills on the Same Subject: Agricultural subsidies, Agriculture, Crop insurance, Farm income, Farmers, Finance, Income tax, Insurance premiums, Law, Saving and investment, ...
H.R. 1882: Farm Risk Management Act of 2007 (GovTrack.us)
A bill in the US Congress: 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 ...
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