To amend the Internal Revenue Code of 1986 to expand certain exceptions to the private activity bond rules for first-time farmers, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (May 29, 2014)
Amends the Internal Revenue Code, with respect to private activity bond financing for first-time farmers, to: (1) increase from $450,000 to $509,600 (adjusted annually for inflation) the amount of bond proceeds that may be used by a first-time farmer to acquire land for farming purposes, (2) repeal the limitation on the use of bond proceeds for used farm equipment, and (3) modify the definition of "substantial farmland" to determine farm size by reference to the average (instead of median) size of a farm in the county in which the farm is located.
What just happenedMay 29, 2014
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseMay 29, 2014
- May 29, 2014IntroReferralH11100
Referred to the House Committee on Ways and Means.
- May 29, 2014IntroReferralIntro-H
Introduced in House
- May 29, 2014IntroReferral1000
Introduced in House