S 2221 · 99th Congress · Taxation
A bill to amend section 108 of the Internal Revenue Code of 1954 to provide that the discharge of certain farm indebtedness shall not be included in gross income.
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Committee on Finance requested executive comment from OMB, Treasury Department, Agriculture Department.(1986-03-27)
Plain Language Summary
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Amends the Internal Revenue Code to provide that the discharge of certain farm indebtedness shall not be included in gross income. Requires that such indebtedness be incurred to finance the production of agricultural products or livestock or be secured by farmland or farm machinery.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (10)
3 Democrats7 Republicans