[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4636 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 4636

To amend the Internal Revenue Code of 1986 to expand the types of crop 
  payments for which a farmer may defer inclusion in income until the 
                           next taxable year.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 25, 1998

Mr. Smith of Michigan introduced the following bill; which was referred 
                   to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to expand the types of crop 
  payments for which a farmer may defer inclusion in income until the 
                           next taxable year.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXPANSION OF CROP INSURANCE PAYMENTS ELIGIBLE FOR DEFERRAL.

    (a) In General.--The second sentence of subsection (d) of section 
451 of the Internal Revenue Code of 1986 is amended by striking ``or 
title'' and inserting ``, title'' and by inserting after ``1988,'' the 
following: ``or the Federal Crop Insurance Act,''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to payments received on, before, or after the date of the 
enactment of this Act.
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