H.R. 2659, The Conservation Reserve Program Tax Fairness Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 2659 would treat payments under the Conservation Reserve Program as rentals from real estate.

Detailed Summary

Conservation Reserve Program Tax Fairness Act of 2007 - Amends the Internal Revenue Code and the Social Security Act to treat payments under the Conservation Acreage Reserve Program as rentals from real estate and thus not self employment income subject to employment tax. Transfers from the general fund of the Treasury to specified social security trust funds amounts necessary to cover any reductions in trust fund revenues resulting from this Act.

Status of the Legislation

Latest Major Action: 6/11/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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