PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Ways and Means.
Congressional Research Service
Version 00 · Introduced in House · Mar 3, 1999
Farm and Ranch Risk Management Act - Amends the Internal Revenue Code to allow an individual engaged in an eligible farming business to deduct a limited amount from gross income for amounts paid into an interest-bearing Farm and Ranch Risk Management (FARRM) Account, created for the taxpayer's exclusive benefit. Requires withdrawal of contributions within five years, upon which they are taxable as ordinary income in the year of withdrawal. Prescribes penalties on amounts not distributed within five years.
People & committees
Rep. Hulshof, Kenny C. [R-MO-9] · R–MO
Legislative record
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Referred to the House Committee on Ways and Means.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 20, 2025. Consult Congress.gov for the current record.
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