Sec. 1603. Equitable treatment of certain entities
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Section 1001 of the Food Security Act of 1985 ( 7 U.S.C. 1308 ) is amended— in subsection (a), by adding at the end the following: The term qualified pass through entity means— a partnership (within the meaning of subchapter K of chapter 1 of the Internal Revenue Code of 1986); a limited liability company that does not affirmatively elect to be treated as a corporation; an S corporation (as defined in section 1361 of such Code); or a joint venture or general partnership. ; and in subsections
(b)and (c), by striking except a joint venture or general partnership each place it appears and inserting except a qualified pass through entity . Section 1001(e)(3)(B)(ii) of the Food Security Act of 1985 ( 7 U.S.C. 1308(e)(3)(B)(ii) ) is amended— in the heading, by striking and inserting joint ventures and general partnerships ; qualified pass through entities by striking joint venture or a general partnership and inserting qualified pass through entity ; by striking joint ventures and general partnerships and inserting qualified pass through entities ; and by striking joint venture or general partnership and inserting qualified pass through entity . Section 1001D(d) of the Food Security Act of 1985 (7 U.S.C. 1308–3a(d)) is amended by striking , general partnership, or joint venture both places it appears.
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- 7 USC 1308–3a(d)
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