To amend the Internal Revenue Code of 1986 to provide that a taxpayer may elect to include in income crop insurance proceeds and disaster payments in the year of the disaster or in the following year, and for other purposes.

Amends the Internal Revenue Code to allow a taxpayer to elect to include in income crop insurance proceeds and disaster payments in the year of the disaster or in the following year.

Modifies the requirement for the accrual method of accounting for family corporations engaged in farming by reducing the amount of gross receipts that may be excepted after December 31, 1993.