H.R.1882 - Farm Risk Management Act of 2007 Sponsor: Terry Everett / 110th Congress

H.R.1882 - Farm Risk Management Act of 2007 _{Sponsor: Terry Everett / 110th Congress}

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Title

110th 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 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. hidemore...

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Farm Risk Management Act of 2007

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Summary

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. (by CRS)

Status

The bill has been introduced.