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.
Rural Environment Tax Credit Act - 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 (as defined by this Act); and (2) the amount allowed as a deduction for soil and water conservation expenditures.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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