Sec. 2. Micro-grants for food security
238 words·~1 min read·
/bill/118/hr/3543/ih/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 4206 of the Agriculture Improvement Act of 2018 ( 7 U.S.C. 7518 ) is amended— in subsection (d)(3), in the matter preceding subparagraph (A), by striking 3 percent and inserting 6 percent ; in subsection (e)(1)(A)— in clause (i), by striking $5,000 and inserting $10,000 ; and in clause (ii), by striking $10,000 and inserting $15,000 ; and in subsection (g)(1), by striking fiscal year 2019 and inserting each of fiscal years 2019 through 2023, and $30,000,000 for . Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139I the following new section:
In the case of any eligible entity (as defined in section 4206 of the Agricultural Improvement Act of 2018 ( 7 U.S.C. 7518 )), gross income shall not include the amount of any subgrant received under such section. No deduction shall be denied, no tax attribute shall be reduced, and no basis increase shall be denied, by reason of the exclusion from gross income provided by subsection (a). . The table of sections for part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 139I the following new item:
Sec. 139J. Micro-grants for food security. . The amendments made by this section shall apply to taxable years ending after the date of the enactment of this Act.
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 2
Micro-grants for food security
Cites 1Cited by 0 across 0 sources