GATES Act

Bill: 118-hr-4800
Sponsor: full_name: Rep. Panetta, Jimmy [D-CA-19]
Introduced: 2023-07-20
Policy area: Agriculture and Food
Subjects: Agricultural prices, subsidies, credit

Income tax exclusion
Latest action: action_date: 2023-08-24
text: Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

Summaries:

tv_txt: I 118th CONGRESS 1st Session H. R. 4800 IN THE HOUSE OF REPRESENTATIVES July 20, 2023 Mr. Panetta (for himself, Mr. Duarte , Ms. Caraveo , Mr. Rouzer , Mr. Costa , Mr. Edwards , and Mrs. Chavez-DeRemer ) introduced the following bill; which was referred to the Committee on Agriculture A BILL To amend the Food Security Act of 1985 to establish an exception to certain payment limitations in the case of person or legal entity that derives income from agriculture, and for other purposes.

1. Short title This Act may be cited as the Growing Access To Environmental Sustainability Act or the GATES Act . 2. Exception for income derived from agriculture Section 1001D(b) of the Food Security Act of 1985 (7 U.S.C. 1308–3a(b)) is amended— (1) in paragraph (1), by striking paragraph (3) and inserting paragraphs (3) and (4) ; and (2) by adding at the end the following: (4) Exception (A) In general In the case of an excepted payment or benefit, the limitation established by paragraph (1) shall not apply to a person or legal entity during a crop, fiscal, or program year, as appropriate, if greater than or equal to 75 percent of the average adjusted gross income of the person or each individual comprising the legal entity derives from farming, ranching, or forestry activities and the person or legal entity provides to the Secretary documentation demonstrating such average adjusted gross income. (B) Excepted payment or benefit For purposes of this paragraph, the term excepted payment or benefit means a payment or benefit described in paragraph (2)(C). .