H.R. 6276 · 112th Congress
Commercial Fishing, Farm, and Ranch Risk Management Act
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
LandrySponsorNo cosponsors.
Commercial Fishing, Farm, and Ranch Risk Management Act - Amends the Internal Revenue Code to establish a Commercial Fishing, Farm, and Ranch Risk Management Account (CFFR Account) to provide farmers and commercial fisherman with additional capital for investment and to protect against operating losses.
What it does: CRS summary · Introduced in House · Aug 2, 2012
Commercial Fishing, Farm, and Ranch Risk Management Act - Amends the Internal Revenue Code to establish a Commercial Fishing, Farm, and Ranch Risk Management Account (CFFR Account) to provide farmers and commercial fisherman with additional capital for investment and to protect against operating losses. Allows a tax deduction for cash contributions to a CFFR Account, limited to 20% of the taxpayer's taxable income attributable to an active farm or commercial fishing business. Imposes a 10% additional tax on amounts in a CFFR Account which are not distributed within 10 years after the establishment of such Account.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Commercial Fishing, Farm, and Ranch Risk Management Act
Latest action (Aug 2, 2012): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Aug 2, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.