A bill to amend the Internal Revenue Code of 1986 to exclude crop insurance indemnity payments from gross income.
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Summary
Based on the bill's title, this legislation would amend the Internal Revenue Code to exclude crop insurance indemnity payments from gross income for federal tax purposes. This would allow farmers and agricultural producers who receive insurance payouts for crop losses to avoid counting those payments as taxable income. The bill has been referred to the Senate Finance Committee.
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How your representatives voted
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