Investment in Value-Added Agriculture Act

Senate Bill 907 - Investment in Value-Added Agriculture Act: Overview, Status, and Impact

Hozzl · 2023-01-16T16:03:10Z

Explore the details of Senate Bill 907 Investment in Value-Added Agriculture Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

1/16/2023, 4:03 PM

Congressional Summary of S 907

Investment in Value-Added Agriculture Act - Amends the Internal Revenue Code to extend the alcohol motor fuel excise tax credit.

Authorizes the pro rata allocation of the small ethanol producer credit among patrons of a qualifying cooperative organization. Increases the size of a qualifying producer. Revises such credit respecting: (1) carryback and carryforward; (2) passive activity; (3) minimum tax; and (4) income inclusion addback.

Establishes a limited value-added agricultural property investment credit, which shall be available to: (1) a person who materially participates in an eligible farming business; or (2) an eligible farmer-owned entity. States that such credit shall not apply to property placed in service after December 31, 2007.

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Current Status of Bill S 907

Bill S 907 is currently in the status of Bill Introduced since May 17, 2001. Bill S 907 was introduced during Congress 107 and was introduced to the Senate on May 17, 2001. Bill S 907's most recent activity was Read twice and referred to the Committee on Finance. as of May 17, 2001

Bipartisan Support of Bill S 907

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 907

Primary Policy Focus

Taxation

Potential Impact Areas

- Agricultural cooperatives

- Agricultural machinery

- Agricultural wastes

- Agriculture and Food

- Alcohol as fuel

- Business income tax

- Commerce

- Cooperative societies

- Depreciation and amortization

- Dividends

- Energy

- Energy tax credits

- Environmental Protection

- Families

- Family farms

- Farm corporations

- Farm income

- Farm manure

- Farm produce

- Farmers

- Finance and Financial Sector

- Gasoline tax

- Income tax

- Investment tax credit

- Minimum tax

- Partnerships

- Public Lands and Natural Resources

- Small farms

- Stocks

- Tax credits

- Tax deductions

- Tax exclusion

- Wood

Alternate Title(s) of Bill S 907

Investment in Value-Added Agriculture Act

A bill to amend the Internal Revenue Code of 1986 to encourage the use of ethanol and the adoption of other forms of value-added agriculture, and for other purposes.

Investment in Value-Added Agriculture Act