H.R.4497 - Farmers' Value-Added Agricultural Investment Tax Credit Act106th Congress (1999-2000)
||Rep. Talent, Jim [R-MO-2] (Introduced 05/18/2000)
||House - Ways and Means
||05/18/2000 Referred to the House Committee on Ways and Means. (All Actions)
This bill has the status Introduced
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Introduced in House (05/18/2000)
Farmers' Value-Added Agricultural Investment Tax Credit Act - Amends the Internal Revenue Code to provide that for purposes of the general business credit, for either an eligible farmer or a farmer-owned entity, the value-added agricultural property investment credit for any taxable year is 50 percent of the basis of any qualified value-added agricultural property placed in service during the taxable year. Provides that, in the case of a farmer-owned entity, such credit shall be allocated on a pro rata basis among eligible persons holding qualified interests in such entity as of the last day of such taxable year. Limits such credit.