All Information (Except Text) for S.2774 - Agriculture Students Encourage, Acknowledge, Reward, Nurture Act114th Congress (2015-2016)
|Sponsor:||Sen. Moran, Jerry [R-KS] (Introduced 04/11/2016)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 04/11/2016 Read twice and referred to the Committee on Finance. (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Titles as Introduced
Agriculture Students EARN Act
Agriculture Students Encourage, Acknowledge, Reward, Nurture Act
Actions Overview (1)
|04/11/2016||Introduced in Senate|
04/11/2016 Introduced in Senate
All Actions (1)
|04/11/2016||Read twice and referred to the Committee on Finance.|
Action By: Senate
04/11/2016 Read twice and referred to the Committee on Finance.
|Sen. Ernst, Joni [R-IA]*||04/11/2016|
|Sen. Barrasso, John [R-WY]||07/12/2016|
|Sen. King, Angus S., Jr. [I-ME]||09/20/2016|
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Finance||04/11/2016||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
Introduced in Senate (04/11/2016)
Agriculture Students EARN Act or the Agriculture Students Encourage, Acknowledge, Reward, Nurture Act
This bill amends the Internal Revenue Code to exclude from the gross income of a student farmer up to $5,000 of the gain from the sale or exchange of personal property (including livestock, crops, and agricultural mechanics or shop products) produced or raised by the student farmer.
A student farmer is an individual who is under 19 years of age and is enrolled in: (1) a program established by the National FFA Organization; (2) a 4-H Club or other program established by 4-H; or (3) a student agriculture program that is under the direction or guidance of an agricultural educator, advisor, or club leader.
To qualify for the exclusion, the production and sale or exchange of the property must be supervised by one of the specified agriculture programs. The sale or exchange must also occur during qualified public entertainment or convention and trade show activities.