H.R. 3817, The Agricultural Bond Improvement 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• This item is from the 110th Congress (2007-2008) and is no longer current.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. 3817 would amend the Internal Revenue Code of 1986 to make improvements to assist young farmers and ranchers.

Detailed Summary

Agricultural Bond Improvement Act of 2007 - Amends the Internal Revenue Code to: (1) exempt agricultural bonds from the volume cap applicable to private activity bonds; (2) increase the loan limit on agricultural bonds to $450,000 and index such amount for inflation after 2007; and (3) eliminate the dollar limitation in the definition of substantial farmland used for agricultural bonds.

Status of the Legislation

Latest Major Action: 10/10/2007: 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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