S 825 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to allow the investment tax credit to certain individuals who purchase used section 38 property used for farming purposes from a related party.

Introduced 1981-03-27· Sponsored by Sen. Jepsen, Roger W. [R-IA]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB; Treasury Department; Agriculture Department.(1981-03-31)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow the investment tax credit to certain individuals who purchase used depreciable business property used for farming purposes (including livestock used for breeding purposes) from a related party. Limits the allowance to the first sale of such property to such an individual.…

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