[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3255 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 3255

To amend the Internal Revenue Code of 1986 to exclude from gross income 
   certain amounts realized on the disposition of property raised or 
         produced by a student farmer, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 28, 2015

 Mr. McCaul (for himself, Mr. Cuellar, and Mr. Conaway) 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 exclude from gross income 
   certain amounts realized on the disposition of property raised or 
         produced by a student farmer, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Student Agriculture Protection Act 
of 2015''.

SEC. 2. EXCLUSION OF CERTAIN GAIN BY STUDENT FARMERS FROM GROSS INCOME.

    (a) In General.--Part III of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 is amended by inserting after section 
139E the following new section:

``SEC. 139F. GAIN FROM PROPERTY PRODUCED OR RAISED BY A STUDENT FARMER.

    ``(a) In General.--In the case of a student farmer, gross income 
shall not include so much of the gains from qualified dispositions for 
the taxable year as does not exceed $5,000.
    ``(b) Definitions.--For the purposes of this section--
            ``(1) Student farmer.--The term `student farmer' means an 
        individual who has not attained age 18, and who is--
                    ``(A) enrolled in a program established by Future 
                Farmers of America, or
                    ``(B) enrolled in a 4-H club.
            ``(2) Qualified disposition and qualified property.--
                    ``(A) The term `qualified disposition' means a sale 
                or exchange by or on behalf of a person who is a 
                student farmer at the time of the sale or exchange--
                            ``(i) of qualified property produced or 
                        raised by that student farmer, and
                            ``(ii) that occurs during an activity of a 
                        type described in subparagraph (2)(B) or (3)(B) 
                        of section 513(d).
                    ``(B) The term `qualified property' means personal 
                property, including livestock, produced or raised by a 
                student farmer under the supervision of a program 
                described in subparagraph (A) or (B) of paragraph 
                (1).''.
    (b) Conforming Amendment.--The table of sections for part III of 
subchapter B of chapter 1 of the Internal Revenue Code of 1986 is 
amended by inserting after the item relating to section 139E the 
following new item:

``Sec. 139F. Certain gain by student farmers''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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