H.R. 8717 · 116th Congress
FAIR Meat Packing Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
SmithSponsor8 cosponsors · 8 R
8 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Feed America by Incentivizing Rural Meat Packing Act or the FAIR Meat Packing Act
What it does: CRS summary · Introduced in House · Oct 30, 2020
Feed America by Incentivizing Rural Meat Packing Act or the FAIR Meat Packing Act
This bill allows an investment tax credit through 2025 for 25% of the basis of each livestock processing facility property placed in service during the taxable year. The amount of the credit may not exceed $250,000 in any taxable year and is not available to taxpayers whose gross receipts exceed $100 million in a taxable year.
The bill defines livestock processing facility as a facility that slaughters livestock (i.e., cattle, sheep, goats, bison, swine, and poultry) for processing into meat and meat products and participates in a meat and poultry inspection program, The facility must employ an average of fewer than 500 employees and include property used for the intake or storage of livestock, the disposal or management of livestock waste, or the packaging, handling, warehousing, or storage of meat products.
The bill also allows a refundable income tax credit for the startup and organizational expenditures of livestock processing facilities.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FAIR Meat Packing Act
Also known as: Feed America by Incentivizing Rural Meat Packing Act
Latest action (Oct 30, 2020): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Oct 30, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.