S. 2167 - Farm Savings Account Act of 2007
Taxation. 110th Congress (2007-2008) View bill details
- Sponsor:
- Jefferson Sessions
- Summary:
- Status:
- The bill has been introduced.
There have been no votes on this bill.
Farm Savings Account Act of 2007
S. 2167 — 110th Congress (2007–2008)
- Summary
- A bill to amend the Internal Revenue Code of 1986 to authorize agricultural producers to establish and contribute to tax-exempt farm savings 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)
- Learn More
- At OpenCongress
- Title
- A bill to amend the Internal Revenue Code of 1986 to authorize agricultural producers to establish and contribute to tax-exempt farm savings 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 Titles
- Farm Savings Account Act of 2007
- Sponsor
- Jefferson Sessions
- Co-Sponsors
- Subjects
- Taxation
- Agricultural subsidies
- Agriculture
- Crop insurance
- Farm income
- Farmers
- Finance
- Income tax
- Insurance premiums
- Law
- Saving and investment
- Tax deductions
- Tax exemption
- Tax penalties
- Trusts and trustees
- Related Bills
- Major Actions
Introduced 10/16/2007 Referred to Committee - Bill History
-
There have been no votes on this bill.
Action Date Description Introduced 10/16/2007 10/16/2007 Read twice and referred to the Committee on Finance. Number Sponsor Date Offered Status
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Contributions data source: OpenSecrets.org
Contributions data source: OpenSecrets.org
