HR 2603 · 100th Congress · Taxation

A bill to amend the Internal Revenue Code of 1986 to allow institutions of the Farm Credit System to deduct amounts added to a reserve for bad debts under rules applicable to the deduction of such amounts by small banks.

Introduced 1987-06-04· Sponsored by Rep. Daub, Hal [R-NE-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1987-06-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to permit institutions of the Farm Credit System an income tax deduction for any reasonable addition to reserves for bad debts. Applies this deduction in lieu of the deduction generally applicable to worthless debts.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

8 Democrats12 Republicans
Rep. Brown, Hank [R-CO-4]CO
Rep. Emerson, Bill [R-MO-8]MO
Rep. Lightfoot, Jim [R-IA-5]IA
Rep. Stallings, Richard H. [D-ID-2]ID
Rep. Dorgan, Byron L. [D-ND-At Large]ND
Rep. McDade, Joseph M. [R-PA-10]PA
Rep. Penny, Timothy J. [D-MN-1]MN
Rep. Robinson, Tommy F. [D-AR-2]AR
Rep. Stenholm, Charles W. [D-TX-17]TX
Rep. Lancaster, H. Martin [D-NC-3]NC
Rep. Roberts, Pat [R-KS-1]KS
Rep. Jeffords, James M. [R-VT-At Large]VT
Rep. Slaughter, Louise McIntosh [D-NY-30]NY
Rep. Marlenee, Ron [R-MT-2]MT
Rep. Boulter, Beau [R-TX-13]TX
Rep. Craig, Larry E. [R-ID-1]ID
Rep. Thomas, William M. [R-CA-20]CA
Rep. Johnson, Tim [D-SD-At Large]SD
Rep. Lagomarsino, Robert J. [R-CA-19]CA
Rep. McEwen, Bob [R-OH-6]OH