S4780
Referred to committee
A bill to amend the Internal Revenue Code of 1986 to exclude micro-grants for food security from gross income.
- Federal
- Senate
- Introduced Jun 15, 2026
- Session 119
Bill Text
Version ISPart III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 139L the following new subsection:
In the case of an eligible entity (as defined in subsection (b)(1) of section 4206 of the Agriculture Improvement Act of 2018 (7 U.S.C. 7518)), gross income shall not include any subgrant or other financial assistance received by such eligible entity under such section of such Act.
The table of sections for part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item related to section 139L the following new item:
The amendments made by this section shall apply to amounts received in taxable years beginning after the date of enactment of this Act.
In the case of an eligible entity (as defined in subsection (b)(1) of section 4206 of the Agriculture Improvement Act of 2018 (7 U.S.C. 7518)), gross income shall not include any subgrant or other financial assistance received by such eligible entity under such section of such Act.
The table of sections for part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item related to section 139L the following new item:
The amendments made by this section shall apply to amounts received in taxable years beginning after the date of enactment of this Act.
Legislative Timeline
2 actions-
Introduced in Senate
-
Read twice and referred to the Committee on Finance.