,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #agjg  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,febru>y #bg1         
#bjbe,mr4 ,ku/(f 7= himself1 ,mr4 ,co/a1
 ,mr4 ,al=d1 ,mr4 ,r\z]1 & ,mr4 ,c>ey7  
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to e/abli% a tax cr$it to 
inc5tivize ! pur*ase ( ,am]ican         
agricultural commodities4  #a4 ,%ort    
title ,?is ,act may be cit$ z ! ,gr[n 9 
,am]ica ,act ( #bjbe4  #b4 ,dome/ically 
produc$ agriculture cr$it  7a7 ,9 g5]al 
,subp>t ,d ( "p ,,iv ( sub*apt] ,a (    
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by add+ at ! end ! foll[+
 new section3  #de;,,bb4 ,dome/ically   
produc$ agriculture cr$it  7a7 ,9 g5]al 
,= purposes ( section #ch1 ! dome/ically
 produc$ agriculture cr$it det]m9$ "u   
?is section = any taxable ye> is an     
am\nt equal to ! less] (-- 7#a7 7,a7 !  
product (--  7,b7 #be p]c5t ( ! total   
agricultural input co/s ( su* taxpay] ) 

respect to su* taxable ye>1 multipli$ by
  7,c7 ! applicable p]c5tage ( ! taxpay]
 = ! taxable ye>1 or  7#b7 #ajj1jjj1jjj4
  7b7 ,def9itions ,= purposes ( ?is     
section-- 7#a7 ,applicable p]c5tage ,=  
purposes ( ?is section1 ! applicable    
p]c5tage = a taxpay] = any taxable ye>  
is an am\nt 7express$ z a p]c5tage7     
equal to ! quoti5t (-- 7,a7 ! dome/ic   
agricultural input co/s ( su* taxpay] = 
su* taxable ye>1 divid$ by  7,b7 ! total
 agricultural input co/s ( su* taxpay] =
 su* taxable ye>4  7#b7 ,agricultural   
commodity  7,a7 ,9 g5]al ,! t]m         
agricultural commodity means a commodity
 specifi$ 9 subp>agraph 7,b7 t-- 7i7 is 
m>ket$ = human consumption1 or  7ii7 is 
us$ 9 ! production or manufacture ( a   
product m>ket$ = human consumption4     
7,b7 ,commodities specifi$ ,!           
commodities describ$ 9 ?is subp>agraph  
are-- 7i7 ,! commodities describ$ 9     
subp>agraphs 7,a71 7,b7 exclud+ live    
animals1 7,c71 & 7,e7 ( section #eac ( !
 ,f$]al ,agriculture ,improvem5t & ,re=m

 ,act ( #aiif1 &  7ii7 ! products (     
f>m-rais$ fi% 7z def9$ 9 section #aeja (
 ! ,agricultural ,act ( #bjad74  7#c7   
,dome/ic agricultural input co/s ,! t]m 
dome/ic agricultural input co/s means   
any exp5ses paid or incurr$ by ! taxpay]
 dur+ any taxable ye> to pur*ase        
agricultural commodities-- 7,a7 :i* are 
produc$ 9 ! ,unit$ ,/ates1 &  7,b7 :i* !
 taxpay] uses 9 ! c\rse ( ! trade or    
bus9ess ( ! taxpay] to produce          
products-- 7i7 9 ! ,unit$ ,/ates1 &     
7ii7 sold = human consumption )\t fur!r 
process+4  7#d7 ,=eign agricultural     
input co/s ,! t]m =eign agricultural    
input co/s means any exp5ses paid or    
incurr$ by ! taxpay] dur+ any taxable   
ye> to pur*ase agricultural             
commodities-- 7,a7 :i* are produc$      
outside ! ,unit$ ,/ates1 &  7,b7 :i* !  
taxpay] uses 9 ! c\rse ( ! trade or     
bus9ess ( ! taxpay] to produce          
products-- 7i7 9 ! ,unit$ ,/ates1 &     
7ii7 sold = human consumption )\t fur!r 
process+4  7#e7 ,total agricultural     

input co/s  7,a7 ,9 g5]al ,subject to   
subp>agraph 7,b71 ! t]m total           
agricultural input co/s means an am\nt  
equal to ! sum ( dome/ic agricultural   
input co/s & =eign agricultural input   
co/s ( ! taxpay] = any taxable ye>4     
7,b7 ,exception ,! t]m total            
agricultural input co/s %all n include  
any exp5ses paid or incurr$ by ! taxpay]
 dur+ ! taxable ye> to pur*ase any      
agricultural commodity id5tifi$ & li/$  
by ! ,secret>y ( ,agriculture "u section
 #b7;c7 ( ! ,gr[n 9 ,am]ica ,act (      
#bjbe4  7c7 ,ineligibility = cr$it  7#a7
 ,9 g5]al ,9 ! case ( any taxpay] = :i* 
! #c-ye> av]age applicable p]c5tage =   
any taxable ye> does n exce$ !          
applicable ?re%old1 ! am\nt ( ! cr$it   
all[$ "u subsection 7a7 %all be r$uc$ to
 z]o = su* taxable ye>4  7#b7           
,applicable ?re%old ,= purposes ( ?is   
subsection1 ! t]m applicable ?re%old    
means-- 7,a7 9 ! case ( taxable ye>s    
beg9n+ 9 #bjbf1 #ej p]c5t1  7,b7 9 !    
case ( taxable ye>s beg9n+ 9 #bjbg1 #ee 

p]c5t1  7,c7 9 ! case ( taxable ye>s    
beg9n+ 9 #bjbh1 #fj p]c5t1  7,d7 9 !    
case ( taxable ye>s beg9n+ 9 #bjbi1 #fe 
p]c5t1  7,e7 9 ! case ( taxable ye>s    
beg9n+ 9 #bjcj1 #gj p]c5t4  7,f7 9 !    
case ( taxable ye>s beg9n+ 9 #bjca1 #ge 
p]c5t1  7,g7 9 ! case ( taxable ye>s    
beg9n+ 9 #bjcb1 #hj p]c5t1 &  7,h7 9 !  
case ( taxable ye>s beg9n+ aft] ,decemb]
 #ca1 #bjcc1 #he p]c5t4  7#c7 #c-ye>    
av]age applicable p]c5tage ,= purposes (
 ?is subsection1 ! t]m #c-ye> av]age    
applicable p]c5tage means1 ) respect to 
a taxpay] & any taxable ye>1 ! am\nt    
7express$ z a p]c5tage7 equal t is equal
 to ! quoti5t (-- 7,a7 ! dome/ic        
agricultural input co/s ( su* taxpay] = 
! #c-ye> p]iod end+ on ! la/ day ( su*  
taxable ye>1 divid$ by  7,b7 ! total    
agricultural input co/s ( su* taxpay] = 
su* #c-ye> p]iod4  7d7 ,coop]ative      
organizations  7#a7 ,apportionm5t (     
cr$it ,9 ! case ( an eligible coop]ative
 organization describ$ 9 p>agraph 7#d71 
any portion ( ! cr$it det]m9$ "u        

subsection 7a7 = ! taxable ye> may1 at !
 election ( ! organization1 be          
apportion$ among patrons eligible to %>e
 9 patronage divid5ds on ! basis ( !    
quantity or value ( bus9ess done ) or = 
su* patrons = ! taxable ye>4  7#b7 ,=m &
 effect ( election ,an election "u      
subp>agraph 7,a7 = any taxable ye> %all 
be made on a timely fil$ return = su*   
ye>4  7#c7 ,election irrevocable ,an    
election "u subp>agraph 7,a7 %all be    
irrevocable = ! taxable ye>4  7#d7      
,treatm5t ( organizations & patrons     
7,a7 ,organizations ,! am\nt ( ! cr$it n
 apportion$ to patrons pursuant to      
p>agraph 7#a7 %all be includ$ 9 ! am\nt 
det]m9$ "u subsection 7a7 = ! taxable   
ye> ( ! eligible coop]ative             
organization4  7,b7 ,patrons ,! am\nt ( 
! cr$it apportion$ to patrons pursuant  
to p>agraph 7#a7 %all be includ$ 9 !    
am\nt det]m9$ "u subsection 7a7 = ! fir/
 taxable ye> ( ea* patron end+ on or    
aft] ! la/ day ( ! paym5t p]iod 7z def9$
 9 section #achb7;d77 = ! taxable ye> ( 

! eligible coop]ative organization or1  
if e>li]1 = ! taxable ye> ( ea* patron  
end+ on or aft] ! date on :i* ! patron  
receives notice f su* coop]ative ( !    
apportionm5t4  7#e7 ,special rule ,if ! 
am\nt ( ! cr$it ( an eligible coop]ative
 organization det]m9$ "u subsection 7a7 
= a taxable ye> is less ?an ! am\nt (   
su* cr$it %[n on ! return ( ! coop]ative
 organization = su* ye>1 an am\nt equal 
to ! excess (-- 7,a7 su* r$uction1 ov]  
7,b7 ! am\nt n apportion$ to su* patrons
 "u subp>agraph 7,a7 = ! taxable ye>1   
%all be treat$ z an increase 9 tax      
impos$ by ?is *apt] on su* organization4
 ,su* increase %all n be treat$ z a tax 
impos$ by ?is *apt] = purposes ( det]m9+
 ! am\nt ( any cr$it "u ?is *apt]4  7#f7
 ,eligible coop]ative organization ,=   
purposes ( ?is subsection1 ! t]m        
eligible coop]ative organization has !  
mean+ giv5 to ! t]m specifi$            
agricultural or horticultural coop]ative
 9 section #aii;,a7g77#d74  7e7         
,aggregation rule ,all p]sons :i* are   

treat$ z a s+le employ] "u subsections  
7a7 & 7b7 ( section #eb %all be treat$ z
 a s+le taxpay] = purposes ( ?is        
section4  7f7 ,regulations ,! ,secret>y 
may prescribe su* regulations & o!r     
guidance z may be necess>y or           
appropriate to c>ry out ?is section4  4 
7b7 ,cr$it all[$ z "p ( g5]al bus9ess   
cr$it  7#a7 ,9 g5]al ,section #ch7;b7 ( 
su* ,code is am5d$ by add+ at ! end !   
foll[+ new p>agraph3  7#db7 !           
dome/ically produc$ agriculture cr$it   
det]m9$ "u section #de,u7a74  4  7#b7   
,limitations ,section #ch7;c7 ( su*     
,code is am5d$ by add+ at ! end ! foll[+
 new p>agraph3  7#g7 ,special rules =   
dome/ically produc$ agriculture cr$it ,9
 ! case ( ! portion ( ! cr$it det]m9$ "u
 subsection 7a7 :i* is attributable to !
 dome/ically produc$ agriculture cr$it  
det]m9$ "u section #de;,,bb-- 7,a7 ?is  
section & section #ci %all be appli$    
sep>ately ) respect to su* cr$it1  7,b7 
9 apply+ p>agraph 7#a7 to su* cr$it--   
7i7 = purposes ( subp>agraph 7,a7 !re(1 

! t5tative m9imum tax %all be treat$ z  
be+ z]o1  7ii7 = purposes ( subp>agraph 
7,b7 !re(1 su* subp>agraph %all be      
appli$-- 7,i7 by sub/itut+ #ej p]c5t =  
#be p]c5t1 &  7,,ii7 by sub/itut+ #j =  
#be1jjj1 &  7iii7 ! limitation "u       
p>agraph 7#a7 7z modifi$ by clause 7ii77
 %all be r$uc$ by ! cr$it all[$ "u      
subsection 7a7 = ! taxable ye> 7o!r ?an 
! dome/ically produc$ agriculture       
cr$it71 &  7,c7 ) respect to !          
application ( section #ci1 subsection   
7a7 ( su* section %all be appli$-- 7i7 9
 p>agraphs 7#a77;,b7 & 7#b77;,b7 !re(1  
by sub/itut+ #aj taxable ye>s = #bj     
taxable ye>s ea* place x appe>s1 &  7ii7
 9 p>agraph 7#b77;,a71 by sub/itut+ #aa 
taxable ye>s = #ba taxable ye>s4  4  7c7
 ,dome/ically unavailable agricultural  
commodities ,= purposes ( section       
#de;,,bb ( su* ,code1 ! ,secret>y (     
,agriculture %all e/abli% & ma9ta9 a li/
 t id5tifies1 ) respect to ea* cal5d>   
ye> beg9n+ aft] ! date ( enactm5t ( ?is 
,act1 ! agricultural commodities 7z     

def9$ 9 subsection 7b77#b7 ( su*        
section7 t _c feasibly be produc$1 gr[n1
 or rais$ dome/ically dur+ su* cal5d>   
ye>4  7d7 ,cl]ical am5dm5t ,! table (   
sections = subp>t ,d ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by add+ at ! end ! foll[+ new     
item3  ,sec4 #de;,,bb4 ,dome/ically     
produc$ agriculture cr$it4  4  7e7      
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjbe4