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    <updateDate>2023-01-15T21:04:30Z</updateDate>
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    <originChamber>House</originChamber>
    <originChamberCode>H</originChamberCode>
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    <introducedDate>2003-01-07</introducedDate>
    <congress>108</congress>
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        <name>Ways and Means Committee</name>
        <chamber>House</chamber>
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            <name>Referred to</name>
            <date>2003-01-07T17:10:10Z</date>
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    <relatedBills>
      <item>
        <title>Agricultural Producers Value-Added Investment Tax Credit Act of 2004</title>
        <congress>108</congress>
        <number>2584</number>
        <type>S</type>
        <latestAction>
          <actionDate>2004-06-24</actionDate>
          <text>Read twice and referred to the Committee on Finance.</text>
        </latestAction>
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            <type>Related bill</type>
            <identifiedBy>CRS</identifiedBy>
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      <item>
        <actionDate>2003-01-07</actionDate>
        <text>Referred to the House Committee on Ways and Means.</text>
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            <name>Ways and Means Committee</name>
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        <text>Introduced in House</text>
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          <name>Library of Congress</name>
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        <actionDate>2003-01-07</actionDate>
        <text>Introduced in House</text>
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          <name>Library of Congress</name>
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    <sponsors>
      <item>
        <bioguideId>M000472</bioguideId>
        <fullName>Rep. McHugh, John M. [R-NY-23]</fullName>
        <firstName>JOHN</firstName>
        <lastName>MCHUGH</lastName>
        <party>R</party>
        <state>NY</state>
        <middleName>M.</middleName>
        <district>23</district>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <policyArea>
      <name>Taxation</name>
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    <subjects>
      <legislativeSubjects>
        <item>
          <name>Agribusiness</name>
        </item>
        <item>
          <name>Agricultural cooperatives</name>
        </item>
        <item>
          <name>Agricultural machinery</name>
        </item>
        <item>
          <name>Agriculture and Food</name>
        </item>
        <item>
          <name>Commerce</name>
        </item>
        <item>
          <name>Corporation taxes</name>
        </item>
        <item>
          <name>Families</name>
        </item>
        <item>
          <name>Family farms</name>
        </item>
        <item>
          <name>Farmers</name>
        </item>
        <item>
          <name>Income tax</name>
        </item>
        <item>
          <name>Investment tax credit</name>
        </item>
        <item>
          <name>Minimum tax</name>
        </item>
        <item>
          <name>Partnerships</name>
        </item>
        <item>
          <name>Small business</name>
        </item>
        <item>
          <name>Tax credits</name>
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        <item>
          <name>Tax deductions</name>
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      <policyArea>
        <name>Taxation</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
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        <actionDate>2003-01-07</actionDate>
        <actionDesc>Introduced in House</actionDesc>
        <updateDate>2006-11-28T17:35:39Z</updateDate>
        <text><![CDATA[Agricultural Producers Value-Added Investment Tax Credit Act of 2003 - 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.]]></text>
      </summary>
    </summaries>
    <title>Agricultural Producers Value-Added Investment Tax Credit Act of 2003</title>
    <titles>
      <item>
        <titleType>Display Title</titleType>
        <title>Agricultural Producers Value-Added Investment Tax Credit Act of 2003</title>
      </item>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>To amend the Internal Revenue Code of 1986 to provide a tax credit for farmers' investments in value-added agriculture.</title>
        <billTextVersionName>Introduced in House</billTextVersionName>
        <billTextVersionCode>IH</billTextVersionCode>
      </item>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>Agricultural Producers Value-Added Investment Tax Credit Act of 2003</title>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in House</type>
        <date>2003-01-07T05:00:00Z</date>
        <formats/>
      </item>
    </textVersions>
    <latestAction>
      <actionDate>2003-01-07</actionDate>
      <text>Referred to the House Committee on Ways and Means.</text>
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    <dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.</dc:description>
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