H.R.3059 - A bill to amend the Internal Revenue Code of 1954 to allow a credit against tax for contributions of certain agricultural products to certain tax-exempt organizations.99th Congress (1985-1986)
|Sponsor:||Rep. Morrison, Sid [R-WA-4] (Introduced 07/23/1985)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 07/23/1985 Referred to House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
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Summary: H.R.3059 — 99th Congress (1985-1986)All Information (Except Text)
Introduced in House (07/23/1985)
Amends the Internal Revenue Code to allow an income tax credit to taxpayers engaged in the trade or business of raising agricultural products for contributions of agricultural products to certain tax-exempt organizations.
Sets the amount of such credit at 10 percent of either: (1) the wholesale market price; or (2) the most recent sale price of the agricultural product contributed.