H.R.2658 - Agricultural Producers Value-Added Investment Tax Credit Act of 2007

To amend the Internal Revenue Code of 1986 to provide a tax credit for farmers' investments in value-added agriculture. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to provide a tax credit for farmers' investments in value-added agriculture. as introduced.
  • Short: Agricultural Producers Value-Added Investment Tax Credit Act of 2007 as introduced.

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Introduced
 
House
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Senate
Passes
 
President
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06/11/07
 
 
 
 
 
 
 

Official Summary

Agricultural Producers Value-Added Investment Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow individuals who materially participate in a farming business and certain farmer-owned entities a business tax credit up to $30,000 for investment in qualified value-added agricul

Official Summary

Agricultural Producers Value-Added Investment Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow individuals who materially participate in a farming business and certain farmer-owned entities a business tax credit up to $30,000 for investment in qualified value-added agricultural property. Defines \"qualified value-added agricultural property\" as depreciable property which is used to add value to a good or product, suitable for food or nonfood use, derived in whole or in part from organic matter which is available on a renewable basis, including agricultural crops and agricultural wastes and residues, wood wastes and residues, and domesticated animal wastes. Terminates the credit after 2012.

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