[Congressional Record Volume 147, Number 22 (Thursday, February 15, 2001)]
[Senate]
[Pages S1508-S1509]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. GRASSLEY (for himself, Mr. Conrad, and Mr. Enzi):
  S. 369. A bill to amend the Internal Revenue Code of 1986 to allow a 
written agreement relating to the exclusion of certain farm rental 
income from net earnings from self-employment; to the Committee on 
Finance.
  Mr. GRASSLEY. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows.

                                 S. 369

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

     SECTION 1. WRITTEN AGREEMENT RELATING TO EXCLUSION OF CERTAIN 
                   FARM RENTAL INCOME FROM NET EARNINGS FROM SELF-
                   EMPLOYMENT.

       (a) Internal Revenue Code.--Section 1402(a)(1)(A) of the 
     Internal Revenue Code of 1986 (relating to net earnings from 
     self-employment) is amended by striking ``an arrangement'' 
     and inserting ``a lease agreement''.
       (b) Social Security Act.--Section 211(a)(1)(A) of the 
     Social Security Act is amended by striking ``an arrangement'' 
     and inserting ``a lease agreement''.
       (c) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2001.
                                   ____
                                 
      By Mr. GRASSLEY (for himself and Mr. Conrad):
  S. 370. A bill to amend the Internal Revenue Code of 1986 to exempt 
agricultural bonds from State volume caps; to the Committee on Finance.

[[Page S1509]]

  Mr. GRASSLEY. Mr. President, I ask unanimous consent that the text of 
the bill be printed in the Record.
  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                 S. 370

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

     SECTION 1. EXEMPTION OF AGRICULTURAL BONDS FROM STATE VOLUME 
                   CAP.

       (a) In General.--Section 146(g) of the Internal Revenue 
     Code of 1986 (relating to exception for certain bonds) is 
     amended by striking ``and'' at the end of paragraph (3), by 
     striking the period at the end of paragraph (4) and inserting 
     ``, and'', and by inserting after paragraph (4) the following 
     new paragraph:
       ``(5) any qualified small issue bond described in section 
     144(a)(12)(B)(ii).''.
       (b) Effective Date.--The amendments made by this section 
     shall apply to bonds issued after December 31, 2001.
                                 ______