To amend the Internal Revenue Code of 1986 to make improvements to assist young farmers and ranchers.
Agricultural Bond Improvement Act of 2005 - Amends the Internal Revenue Code to: (1) exempt agricultural bonds from the volume cap applicable to private activity bonds; (2) permit a Federal guarantee of an agricultural bond under the Consolidated Farm and Rural Development Act without a loss of tax exemption; (3) increase the loan limit on agricultural bonds to $450,000 and index such amount for inflation after 2005; and (4) eliminate the dollar limitation in the definition of substantial farmland used for agricultural bonds.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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