PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Finance.
Congressional Research Service
Version 00 · Introduced in Senate · Apr 13, 2000
Farm Relief and Economic Development Act of 2000 - Amends the Internal Revenue Code, with respect to farmers, to among other things: (1) allow a deduction from gross income for amounts paid into an interest-bearing Farm and Ranch Risk Management (FARRM) Account, created for the farmer's exclusive benefit; (2) exclude net earnings from a lease agreement (currently, an arrangement) from income with respect to farmland; (3) treat conservation reserve program payments as real estate rentals for self-employment earnings purposes; (4) provide a limited exclusion from gross income of gain from the sale of qualified farm property, to the extent such property does not exceed 160 acres; (5) exempt certain small issue bonds from the State volume cap; (6) exclude from gross income gain from the transfer of farm property to satisfy up to $350,000 of qualified farm indebtedness; (6) increase the number of years for which a loss may be carried back; and (7) coordinate income averaging with the alternative minimum tax.
People & committees
Sen. Conrad, Kent [D-ND] · D–ND
Legislative record
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Read twice and referred to the Committee on Finance.
Sponsor introductory remarks on measure. (CR S2736-2737)
Introduced in Senate
Primary sources
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Source last updated: Aug 20, 2025. Consult Congress.gov for the current record.
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