Source: https://www.currentfederaltaxdevelopments.com/blog/2019/4/4/irs-sends-proposed-regulations-on-199ag-to-oira
Timestamp: 2019-04-19 06:52:08+00:00

Document:
Although we have been through proposed regulations and final regulations issued along with some additional proposed regulations under IRC §199A, the IRS had not yet issued regulations on one portion of the section—IRC §199(g), a provision added as part of the grain glitch fix by the 2018 Consolidated Appropriations Act.
The change provided agricultural cooperatives with a deduction very similar to the old law IRC §199 qualified domestic production activity deduction. Now the IRS has now sent proposed regulations under IRC §199(g) to the Office of Information and Regulatory Affairs of the Office of Management and Budget (RIN 1545-BO90).
The Secretary shall prescribe such regulations as are necessary to carry out the purposes of this subsection, including regulations which prevent more than 1 taxpayer from being allowed a deduction under this subsection with respect to any activity described in paragraph (3)(D)(i). Such regulations shall be based on the regulations applicable to cooperatives and their patrons under section 199 (as in effect before its repeal).
The directions to the IRS make clear that Congress’s intent is to attempt to restore old §199 treatment in this area. The regulations presumably will look very much like what previously existed under old, now repealed, IRC §199.
OIRA now reviews all proposed and final Treasury regulations prior to their release. Since OIRA began reviewing these submissions last year, the agency has taken varying amounts of time to complete the reviews. Most likely, though, this process will be completed sometime in May, followed shortly thereafter by the release of the proposed regulations.

References: §199
 §199
 §199
 §199
 §199
 §199