- Not enactedThe President has not signed this bill
- The house has not voted
- The senate has not voted
Senate Committee on FinanceIntroducedMarch 7th, 2013
- senate Committees
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Dairy Augmentation for Increased Retail in Yogurt products (DAIRY) Act
A bill to amend the Internal Revenue Code of 1986 to establish dairy farm savings accounts, and for other purposes.
Dairy Augmentation for Increased Retail in Yogurt products (DAIRY) Act - Amends the Internal Revenue Code to: (1) establish tax-exempt dairy farm savings accounts to allow taxpayers engaged in the trade or business of dairy farming to use distributions from such accounts to pay business expenses; (2) allow a deduction from gross income for cash contributions to such accounts; and (3) set forth tax rules relating to, and penalties for, account distributions, excess contributions, and prohibited transactions.