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Conservation Reserve Program Tax Fairness Act of 2003 (Introduced in Senate)

S 1316 IS

108th CONGRESS

1st Session

S. 1316

To treat payments under the Conservation Reserve Program as rentals from real estate.

IN THE SENATE OF THE UNITED STATES

June 24, 2003

Mr. BROWNBACK (for himself, Mr. DORGAN, Mr. GRASSLEY, Mr. BAUCUS, Mr. DASCHLE, Mr. ROBERTS, Mr. BURNS, Mr. BOND, Mr. ALLARD, Mr. HAGEL, Mr. DEWINE, Mr. CRAIG, Mr. LEVIN, Mr. LEAHY, Mr. CONRAD, Mr. HARKIN, and Mr. JEFFORDS) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To treat payments under the Conservation Reserve Program as rentals from real estate.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Conservation Reserve Program Tax Fairness Act of 2003'.

SEC. 2. TREATMENT OF CONSERVATION RESERVE PROGRAM PAYMENTS AS RENTALS FROM REAL ESTATE.

(a) INTERNAL REVENUE CODE- Section 1402(a)(1) of the Internal Revenue Code of 1986 (defining net earnings from self-employment) is amended by inserting `and including payments under section 1233(2) of the Food Security Act of 1985 (16 U.S.C. 3833(2))' after `crop shares'.

(b) SOCIAL SECURITY ACT- Section 211(a)(1) of the Social Security Act is amended by inserting `and including payments under section 1233(2) of the Food Security Act of 1985 (16 U.S.C. 3833(2))' after `crop shares'.

(c) EFFECTIVE DATE- The amendments made by this section shall apply to payments made before, on, or after the date of the enactment of this Act.