Sec. 10306. 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 redesignating paragraph
(5)as paragraph (6); and by inserting after paragraph
(4)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); an S corporation (as defined in section 1361 of that Code); a limited liability company that does not affirmatively elect to be treated as a corporation; and a joint venture or general partnership. ; 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 ; and in subsection (d), by striking subtitle B of title I of the Agricultural Act of 2014 or . 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 clause heading, by striking and inserting joint ventures and general partnerships ; qualified pass-through entities by striking a joint venture or a general partnership and inserting a qualified pass-through entity ; by striking joint ventures and general partnerships and inserting qualified pass-through entities ; and by striking the joint venture or general partnership and inserting the qualified pass-through entity . Section 1001A(b)(2) of the Food Security Act of 1985 ( 7 U.S.C. 1308–1(b)(2) ) is amended— subparagraphs
(A)and (B), by striking a general partnership, a participant in a joint venture each place it appears and inserting a qualified pass-through entity ; and in subparagraph (C), by striking a general partnership, joint venture, or similar entity and inserting a qualified pass-through entity or a similar entity . Section 1001B(d) of the Food Security Act of 1985 ( 7 U.S.C. 1308–2(d) ) is amended by striking partnerships and joint ventures and inserting qualified pass-through entities . 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 each place it appears.
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U.S. Code
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- 7 USC 1308–1(b)(2)
- 7 USC 1308–2(d)
- 7 USC 1308–3a(d)
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Sec. 10306
Equitable treatment of certain entities
Cite7 USC 1308–1(b)(2)
Cite7 USC 1308–2(d)
Cite7 USC 1308–3a(d)
Cites 4Cited by 0 across 0 sources