3.0.0 5932 2023-01-12T17:52:34Z 2023-01-12T17:52:34Z House H HR 2006-07-27 109 hsag00 Agriculture Committee House Standing Referred to 2006-07-27T14:06:25Z hswm00 Ways and Means Committee House Standing Referred to 2006-07-27T14:06:20Z 2006-07-27 Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsag00 Agriculture Committee 2006-07-27 Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2006-07-27 Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2006-07-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2006-07-27 Introduced in House IntroReferral 1000 9 Library of Congress E000268 Rep. Everett, Terry [R-AL-2] TERRY EVERETT R AL 2 N B001244 Rep. Bonner, Jo [R-AL-1] Jo Bonner R AL 1 2006-07-27 True R000575 Rep. Rogers, Mike D. [R-AL-3] Mike Rogers R AL 3 2006-07-27 True C000868 Rep. Cramer, Robert E. (Bud), Jr. [D-AL-5] ROBERT CRAMER D AL E. 5 2006-09-06 False E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 2006-09-06 False Taxation Agricultural subsidies Agriculture and Food Crop insurance Farm income Farmers Finance and Financial Sector Income tax Insurance premiums Law Tax deductions Tax penalties Trusts and trustees Taxation 00 2006-07-27 Introduced in House 2006-09-05T18:07:57Z

Farm Risk Management Act of 2006 - Amends the Internal Revenue Code to: (1) establish tax-exempt farm risk management accounts to allow taxpayers engaged in the business of farming or ranching to use distributions from such accounts to offset operational losses in lieu of receiving, after a specified transitional period, federal subsidies to purchase crop insurance; (2) allow a tax deduction for cash contributions to such accounts; (3) specify minimum levels of contributions to, and maximum levels of distributions from, such accounts; (4) require the Secretary of Agriculture to make matching contributions to such accounts; and (5) set forth tax rules relating to account distributions, excess contributions, and prohibited transactions.

]]> Farm Risk Management Act of 2006 Display Title Farm Risk Management Act of 2006 Official Title as Introduced To amend the Internal Revenue Code of 1986 to authorize agricultural producers to establish and contribute to tax-exempt farm risk management accounts in lieu of obtaining federally subsidized crop insurance or noninsured crop assistance, to provide for contributions to such accounts by the Secretary of Agriculture, to specify the situations in which amounts may be paid to producers from such accounts, and to limit the total amount of such distributions to a producer during a taxable year, and for other purposes. Introduced in House IH Short Titles as Introduced Farm Risk Management Act of 2006 Introduced in House 2006-07-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr5932ih/xml/BILLS-109hr5932ih.xml 2006-07-27 Referred to the Committee on Ways and Means, and in addition to the Committee on Agriculture, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. text/xml EN 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. Congressional Research Service, Library of Congress 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.