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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Farmers' Access to Resources and Machinery Act

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

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.

Actions Overview (1)

Date Actions Overview
11/08/2019Introduced in House

All Actions (2)

Date All Actions
11/08/2019Referred to the House Committee on Ways and Means.
Action By: House of Representatives
11/08/2019Introduced in House
Action By: House of Representatives

Cosponsors (5)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Crawford, Eric A. "Rick" [R-AR-1]* 11/08/2019
Rep. Axne, Cynthia [D-IA-3]* 11/08/2019
Rep. Loebsack, David [D-IA-2]* 11/08/2019
Rep. Watkins, Steve [R-KS-2]* 11/08/2019
Rep. Fortenberry, Jeff [R-NE-1]* 11/08/2019

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means11/08/2019 Referred to

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Subjects (6)

Latest Summary (1)

There is one summary for H.R.5007. View summaries

Shown Here:
Introduced in House (11/08/2019)

Farmers' Access to Resources and Machinery Act

This bill amends the Internal Revenue Code, with respect to private activity bond financing for first-time farmers, to (1) increase from $450,000 to $524,200 (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 separate dollar 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.