A bill to amend the Internal Revenue Code of 1986 to preclude all corporations engaged in farm product processing with gross receipts in excess of $100,000,000 from using cash accounting.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to deny the use of the cash method of accounting to farm product processing corporations that have gross receipts in excess of $100,000,000. (Current law allows corporations with gross receipts of $1,000,000 or less to use the cash method of accounting.) Effects this required change in accounting procedures over a three-year phase-in period.…