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Investment in Value-Added Agriculture Act

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.

Read the Full Bill

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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
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

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

Comments

Sponsors and Cosponsors of S 907

Jean Carnahan
Jean Carnahan
MissouriIndependent

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