A bill to amend the Internal Revenue Code of 1954 to allow the investment tax credit to certain individuals who purchase used section 38 property used for farming purposes from a related party.

Amends the Internal Revenue Code to allow the investment tax credit to certain individuals who purchase used depreciable business property used for farming purposes (including livestock used for breeding purposes) from a related party. Limits such allowance to the first sale of such property to a qualified individual.