S. 71 · 115th Congress
Emergency Citrus Disease Response Act
- Stage
- In committee
- Sponsor
- Bill Nelson
- Introduced
- 2017-01-09
- Latest action
- 2017-01-09 · Introduced in Senate
Summary
Emergency Citrus Disease Response Act
This bill amends the Internal Revenue Code to allow a full deduction in the current taxable year of the cost of replanting lost or damaged citrus plants. The taxpayer must own an equity interest of at least 50% in such replanted plants and may deduct costs paid or incurred through the date that is ten years after the enactment of this bill.