SB 641 Creates an income tax deduction for payments received as part of a program that compensates agricultural producers for losses from disaster or emergency
Sponsor: Schatz
LR Number: 4738S.01T Fiscal Notes
Committee: Ways and Means
Last Action: 9/14/2016 - Legislature voted to override Governor's veto Journal Page: S28
Title: Calendar Position:
Effective Date: August 28, 2016
House Handler: Reiboldt

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Current Bill Summary


SB 641 - This act creates an income tax deduction for payments received as part of a program that compensates agricultural producers who have suffered a loss due to disaster or emergency. The deduction will be available for all tax years beginning on or after January 1, 2014.

This act is similar to HB 2169 (2016), HB 771 (2015), and provisions in HCS/SCS/SB 703 (2016), HCS/SCS/SB 131 (2015) and HCS/SB 500 (2015). This act is identical to SCS/SB 374 (2015).

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