summary
Introduced
01/03/2017
01/03/2017
In Committee
01/03/2017
01/03/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Emergency Citrus Disease Response Act of 2017 This bill amends the Internal Revenue Code to allow a full deduction in the current taxable year of the cost of replanting lost or damaged citrus plants. The taxpayer must own an equity interest of at least 50% in such replanted plants and may deduct costs paid or incurred through 2026.
AI Summary
This bill amends the Internal Revenue Code to allow a full deduction in the current taxable year of the cost of replanting lost or damaged citrus plants. The taxpayer must own an equity interest of at least 50% in the replanted plants and may deduct costs paid or incurred through 2026. This provision applies to situations where the taxpayer's equity interest is held by another person, or where the taxpayer has sold the entirety of their equity interest in the land on which the lost or damaged plants were located, and the replanting is done on that same land.
Committee Categories
Budget and Finance
Sponsors (33)
Vern Buchanan (R)*,
Gus Bilirakis (R),
Julia Brownley (D),
Kathy Castor (D),
Charlie Crist (D),
Carlos Curbelo (R),
Val Demings (D),
Ron DeSantis (R),
Theodore Deutch (D),
Mario Diaz-Balart (R),
Neal Dunn (R),
Lois Frankel (D),
Trent Franks (R),
Matt Gaetz (R),
Vicente Gonzalez (D),
Paul Gosar (R),
Alcee Hastings (D),
Al Lawson (D),
Brian Mast (R),
Stephanie Murphy (D),
Bill Posey (R),
Francis Rooney (R),
Thomas Rooney (R),
Ileana Ros-Lehtinen (R),
Dennis Ross (R),
John Rutherford (R),
David Schweikert (R),
Darren Soto (D),
Filemón Vela (D),
Debbie Wasserman Schultz (D),
Daniel Webster (R),
Frederica Wilson (D),
Ted Yoho (R),
Last Action
Referred to the House Committee on Ways and Means. (on 01/03/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.congress.gov/bill/115th-congress/house-bill/112/all-info |
BillText | https://www.congress.gov/115/bills/hr112/BILLS-115hr112ih.pdf |
Bill | https://www.congress.gov/115/bills/hr112/BILLS-115hr112ih.pdf.pdf |
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