S. 1691 — A bill to amend the Internal Revenue Code of 1986 to provide taxpayers engaged in certain agriculture-related activities a credit against income tax for property used to control environmental pollution and for soil and water conservation expenditures.

Summary

Amends the Internal Revenue Code to allow taxpayers primarily engaged in a farming-related business an investment tax credit for a percentage of: (1) the costs of agricultural environmental property; and (2) the amount allowed as a deduction for soil and water conservation expenditures.

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Related Legislation

H.R. 2708To amend the Internal Revenue Code of 1986 to provide taxpayers engaged in certain agriculture-related activities a credit against income tax for property used to control environmental pollution and for soil and water conservation expenditures.
1993-07-22Referred to the House Committee on Ways and Means.
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Legislative Actions

1993-11-19
Introduced in Senate
1993-11-19
Sponsor introductory remarks on measure. (CR S16442)
1993-11-19
Read twice and referred to the Committee on Finance.
1994-10-05
Subcommittee on Energy and Agricultural Taxation. Hearings held. Hearings printed: S.Hrg. 103-1025.

A bill to amend the Internal Revenue Code of 1986 to provide taxpayers engaged in certain agriculture-related activities a credit against income tax for property used to control environmental pollution and for soil and water conservation expenditures.

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