This part adds a new term to an older farm law. The term is qualified pass-through entity. It covers four kinds of business. The new term is then swapped in where the old words were.
“The term `qualified pass-through entity' means--”
The section inserts a new paragraph (5) into subsection (a) of section 1001 of the Food Security Act of 1985 (7 U.S.C. 1308) defining a qualified pass-through entity as a partnership within the meaning of subchapter K of chapter 1 of the Internal Revenue Code of 1986, an S corporation as defined in section 1361 of that Code, a limited liability company that does not affirmatively elect to be treated as a corporation, and a joint venture or general partnership.
What the document actually says
“The term `qualified pass-through entity' means--”
That sentence, in plain words
The law gives a new term a meaning. The list that follows says what it covers.
What this is about
It covers four kinds of business. One is a partnership. One is an S corporation. One is a limited liability company. One is a joint venture.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “is amended”Who acts: Secretary of AgricultureHow: statuteSec. 10306 in the PDF
What the document says
“in subsections (b) and (c), by striking "except a joint venture or general partnership" each place it appears and inserting "except a qualified pass-through entity"; and”
The section strikes the words except a joint venture or general partnership each place they appear in subsections (b) and (c) of section 1001 of the Food Security Act of 1985 and inserts the words except a qualified pass-through entity. It also strikes a reference to subtitle B of title I of the Agricultural Act of 2014 from subsection (d).
What the document actually says
“in subsections (b) and (c), by striking "except a joint venture or general partnership" each place it appears and inserting "except a qualified pass-through entity"; and”
That sentence, in plain words
Old words are taken out wherever they appear. The new term is put in their place. That is done in two parts of the older law.
What this is about
The old words named only two kinds of business. The new term names four. What those parts of the older law do is not recorded here.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “is amended”Who acts: Secretary of AgricultureHow: statuteSec. 10306 in the PDF
What the document says
“subparagraphs (A) and (B), by striking "a general partnership, a participant in a joint venture" each place it appears and inserting "a qualified pass-through entity"; and”
The section amends section 1001A(b)(2) of the Food Security Act of 1985 (7 U.S.C. 1308-1(b)(2)) by making the quoted substitution in subparagraphs (A) and (B), and by striking the words a general partnership, joint venture, or similar entity in subparagraph (C) and inserting the words a qualified pass-through entity or a similar entity.
What the document actually says
“subparagraphs (A) and (B), by striking "a general partnership, a participant in a joint venture" each place it appears and inserting "a qualified pass-through entity"; and”
That sentence, in plain words
Old words are taken out of two parts of a test. The new term is put in their place.
What this is about
The test decides who counts as actively farming. A third part of the test gets the same swap. The test itself is not indexed here.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “is amended”Who acts: Secretary of AgricultureHow: statuteSec. 10306 in the PDF
What the document says
“Section 1001D(d) of the Food Security Act of 1985 (7 U.S.C. 1308-3a(d)) is amended by striking ", general partnership, or joint venture" each place it appears.”
The section strikes the words general partnership, or joint venture each place they appear in section 1001D(d) of the Food Security Act of 1985 (7 U.S.C. 1308-3a(d)). It also amends section 1001B(d) of the same Act (7 U.S.C. 1308-2(d)) by striking the words partnerships and joint ventures and inserting the new term.
What the document actually says
“Section 1001D(d) of the Food Security Act of 1985 (7 U.S.C. 1308-3a(d)) is amended by striking ", general partnership, or joint venture" each place it appears.”
That sentence, in plain words
Words are taken out of a rule on income. Nothing is put in their place. That is done wherever they appear.
What this is about
A second change swaps the new term into a rule on shared liability. Both rules sit in a 1985 farm law. That law is not indexed here.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
Each distinct thing the section does: the new definition of a qualified pass-through entity, the substitution of that term in the payment limitation subsections, the substitution in the actively engaged in farming test, and the substitutions in the joint liability and adjusted gross income provisions.
The redesignation of paragraph (5) as paragraph (6), and the four separate heading and wording substitutions in the attribution of payments clause, which repeat the same swap.
The section works by amending sections 1001, 1001A, 1001B and 1001D of the Food Security Act of 1985, none of which is indexed here, so what the swapped-in term now does in those provisions cannot be checked against anything on this site.
